Hanwha Investment & Securities raised its target price to 420,000 won, highly evaluating Hansol Chemical's business diversification. The investment opinion remained 'buy'.
"Hansol Chemical is supplying key materials across all areas of IT, and we believe that it is still an attractive company considering that the silicon cathode material business will be operated in 2023," Hanwha Investment & Securities said on the 15th.
Regarding the fact that its third-quarter earnings fell short of expectations, Hanwha Investment & Securities said, "We fell short of expectations due to supply chain issues in the NB latex market," adding, "We only had high expectations and continued even earnings growth in each business sector.".
Hanwha Investment & Securities forecast sales of 2,024 billion won and operating profit of 41.1 billion won in the fourth quarter of Hansol Chemical. The researcher explained that growth is expected to accelerate centered on QD (quantum dot), precurser and secondary battery materials next year, and that growth in the sector of hydrogen peroxide can also be expected depending on the operation of Samsung Electronics' third plant in Pyeongtaek.
Hanwha Investment & Securities said, "If the NB latex market improves, we can expect a further increase in performance," adding, "By supplying electronic materials to all areas such as semiconductors, displays and secondary batteries, valuation re-evaluation is in full swing at the same time as earnings growth.".
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
