Eugene Investment & Securities raised the target price for Haesung DS to 42,000 won and maintained its investment opinion of 'Buy'.
The securities predicted, "Haesung DS will record its best performance in the second quarter due to increased sales of semiconductors for automobiles with good profitability. Haesung DS achieved its highest quarterly sales due to increased demand for automotive semiconductors. Following the last quarter, the company posted a year-on-year increase in sales and its highest quarterly sales."
Haesung DS recorded sales of 137.5 billion won and operating profit of 10.3 billion won in the first quarter. Sales rose 28.1% year-over-year, continuing earnings growth, but operating profit fell 1.5%. It is 7.3% and 8.1% higher than market expectations of 128.1 billion won in sales and 9.4 billion won in operating profit, respectively.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
