Hi Investment & Securities maintained Samsung C&T's target share price at 160,000 won and its investment opinion of 'Buy'.
Hi Investment & Securities is expected to see its operating profit improve due to increased new orders from Samsung C&T's construction sector.
The securities firm said Samsung C&T's goal of 10.7 trillion won to win new orders in the construction sector this year, but it is doing well, achieving more than 5.7 trillion won in new orders in the first quarter alone, and expects to achieve new orders above this year's target considering this trend.
Samsung C&T's new orders in the first quarter include 2.1 trillion won for the construction of a semiconductor plant at Samsung Electronics' Pyeongtaek plant, 1.86 trillion won for the construction of a liquefied natural gas (LNG) export base in Qatar, 1.23 trillion won for the third terminal at Taoyuan International Airport in Taiwan, and 500 billion won for the Singapore Subway Corporation.
Samsung C&T is expected to generate 31.34 trillion won in sales and 1.89 trillion won in operating profit on a consolidated basis in 2021. Sales are up 2.7% and operating profit is up 27% from 2020.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
