[Infostock Daily=Reporter Lee Dong-hoon] Shinhan Financial Investment has raised the target price to 21,000 won on Seah Besteel and it matined its 'Buy' rating.
Shinhan Financial Investment raised its earnings estimate on Seah Besteel to reflect sales and selling prices in line with improving front-end business conditions.
However, Seah Besteel displayed a significant recovery in the fourth quarter, showing the possibility of improving its performance. As the long-awaited rise in selling prices began in January and February, stock prices, which have been sluggish, are soaring along with expectations of a late recovery in earnings.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
Tag
#Shinhan Financial Investment
#Seah Besteel
#Undervalued stocks
#steel industry
#recovery in earnings
#steelmakers
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