Kiwoom Securities said on the 10th that its profit stamina is improving as profitability improves for Korea Gas Corp.
In the fourth quarter, the performance of overseas businesses is expected to improve significantly compared to the third quarter. While maintaining its 'buy' investment opinion, it raised its target price by 11.8% from 51,000 won to 57000 won.
The Korea Gas Corporation's operating profit in the third quarter was 7.8 billion won, shifting to profit compared to the same period last year.
It is positive considering the growth of gas sales in the third quarter of Korea Gas Corporation. Gas sales in the third quarter rose 32% year-on-year and 5% for urban gas, up 20% overall.
"The solid growth continued for four consecutive quarters, which is positive in that it could lead to the expansion of the rate base related to next year's performance," Kiwoom Securities said in a report.
The operating profit of major overseas metropolitan areas in the third quarter was 999.9 billion won, which is much better than the loss of 44.9 billion won in the second quarter and 38.8 billion won in the third quarter of last year, and consolidated operating profit turned into profit.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
