Kiwoom Securities predicted on the 15th that Kolon Industries'expansion effects related to Amarid and hydrogen materials will gradually be reflected in the market capitalization.
As a result, the target price was raised from 115,000 won to 130,000 won and the investment opinion "buy" was maintained.
Kiwoom Securities explained, "Kolon Industries is seeking to expand its new growth engines, aramid and hydrogen materials, amid solid profitability of tire cords and petroleum balance, which are cash cow products.".
"We need to reflect the value of the Aramid business more aggressively," Kiwoom Securities said. "Kolon Industries' performance in the Aramid sector is expected to further improve its performance this year by continuously improving its process and expanding its product line.".
Kiwoom Securities predicted that aramid sales will increase to 400 billion won from about 190 billion won this year if the production capacity of 7,500 tons of aramid is expanded to 15,000 tons by the third quarter of 2023.
Reporter Lee Dong-hoon firstname.lastname@example.org