Kolon Global expands its earnings expectations for next year… Target price raised (Hyundai Motor Securities)

Hyundai Motor Securities raised its target stock price by 14.3% to 40,000 won and maintained its "buy" opinion on Kolon Global on the 9th, saying expectations for next year's earnings growth are rising.

Kolon Global's third-quarter sales are expected to reach 1.2 trillion won and operating profit is expected to reach 60.9 billion won. Sales and operating profit are expected to rise 18.9% and 20.5%, respectively, compared to the same period last year.

Hyundai Motor Securities advised that expectations for future industries such as wind power industry and hydrogen production are also high.

Kolon Global said it is pushing for a green hydrogen production project that utilizes renewable energy produced from wind power plants.

"We are currently focusing on securing wind power complexes in the short term," Hyundai Motor Securities said. "Wando offshore wind power, which is currently the most expected, plans to obtain a power generation business permit in the second half of this year and push for construction in 2024.".

Reporter Lee Ji-sun stockmk2020@gmail.com