Shinhan Financial Investment said on the 12th that profitability improvement is clear among South Korean secondary battery companies. It was positive that Chunbo diversified its customers and products.
The target price was raised by 25% from KRW 320,000 to KRW 400,000. The investment opinion remained 'buy'.
Chunbo recorded sales of 73.8 billion won and operating profit of 11.9 billion won in the third quarter of this year. This is an increase of 93% and 69%, respectively, from the same period last year.
Shinhan Financial Investment said, "Performance surprise continues due to the opening of the secondary battery market," adding, "Performance growth by product in the third quarter is also positive.".
Chunbo is expected to improve profitability in the future as it expands battery-mounted models with customers through product development.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
