SK Securities maintained the target price of Hankook Tire & Technology at 56,000 won and its investment opinion of 'Buy'.
The securities firm said, "The proportion of tires over 18 inches is 49.0% in Korea, 40.5% in China, 27.0% in Europe, and 50.2% in North America".
Hankook Tire & Technology's sales in the first quarter of this year rose 12.6% year-on-year to 1.6168 trillion won, operating profit rose 75.5% to 186 billion won, and net profit turned to surplus at 149.5 billion won.
"Starting from March to May, product prices have increased by 3 to 5% in Europe, the U.S. and China," the securities firm said. "Considering favorable business conditions, it will be possible to move on to product prices even if raw material prices rise further in the future".
Reporter Lee Dong-hoon email@example.com