[Infostock Daily= Reporter An Hoe Hyun] NH Investment & Securities said on the 25th that Hanwha Systems has changed its frame from a traditional defense company to a high-tech growth stock preparing for satellite and urban air mobility(UAM) business. As a result, the target stock price was raised from KRW 22,000 to KRW 28,500.
"Due to market expectations for space development, the valuation of related companies has also risen to 36.1 times the average price earning ratio(PER)," the company explained, adding, "Hanwha System's stock price level is judged to be undervalued compared to its peers, and expectations for UAM are expected to be further reflected in stock prices in the future."
"It is also a promising investment point for the expansion of cooperation between Hanwha Systems, subsidiaries and Satrec Initiative," the company said and predicted, "The figures of Hanwha Group, including CEO Kim Dong-kwan, will join the board of directors of Satrec Initiative through a shareholders' meeting in March."
Reporter An Hoe Hyun ahh@infostock.co.kr
