[Infostock Daily= Reporter An Hoe Hyun] Kiwoom Securities on the 14th raised its target stock price to KRW 38,000 and maintained its investment opinion 'Buy' for Poongsan in anticipation of rising copper prices and strong U.S. defense exports in the first half of this year.
Kiwoom Securities expects Poongsan's consolidated operating profit to reach 56.5 billion won, the highest since 59.8 billion won in the second quarter of 2017. Separate operating profit is expected to reach 41.5 billion won, exceeding the previous estimate of 39.3 billion won.
The performance of the copper processing business is estimated to have been better than expected due to rising copper prices, and the defense business is also expected to continue to rise, led by U.S. exports, which have been showing the biggest boom in four years.
Reporter An Hoe Hyun ahh@infostock.co.kr
