Kiwoom Securities maintained its investment opinion "buy" and target stock price of 30,000 won on the 8th, expecting POSCO International's third-quarter earnings to exceed market expectations.
Kiwoom Securities forecast POSCO International's third-quarter earnings to be 8.4122 trillion won in sales and 156.3 billion won in operating profit.
This is an increase of 66% and 46%, respectively, from the same period last year. Operating profit is expected to exceed the market forecast of KRW 140 billion with good performance comparable to the record high of the second quarter.
"Solid profitability in the steel trading sector will continue in the third quarter due to strong market conditions and integration of export channels," Kiwoom Securities said.
"Myanmar's gas field, which had been somewhat sluggish in the first half, will begin to improve its profitability in the third quarter due to rising oil and natural gas prices, a rise in gas sales and a rise in the ratio of high-cost recovery," Kiwoom Securities explained.
In the case of trade and investment corporations, palm oil is also expected to perform better than expected due to strong prices and increased yields amid continued strong sales of drive motor cores.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
