Ebest Investment & Securities Co. raised target price on Hyosuing TNC by 51.6% to 720,000 won from the previous 475,000 won and the securities firm maintained its investment opinion as a 'Buy'.
The securities firm said that Hyosung TNC is expected to have an earnings surprise in the first quarter due to strong performance in the spandex sector.
The securities firm estimated that Hyosung TNC's sales will rise to 1.5138 trillion won in the first quarter of this year, while operating profit will rise 3.2 percent year-on-year to 181 billion won, up 129.1 percent over the same period, exceeding the consensus.
In particular, the annual operating profit ratio of the textile sector is expected to grow by more than 20% in 2021 as product prices have risen by a greater margin than expected.
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