SK Securities predicted on the 17th that Hanwha's earnings improvement of major subsidiaries is likely to continue after the second quarter.
SK Securities maintained its 'buy' investment opinion on Hanwha and raised its target price to 41,000 won.
Hanwha's performance in the first quarter of 2021 recorded sales of 12.8382 trillion won, operating profit of 848.5 billion won, and net profit of 819.9 billion won. It is an operating profit far above market expectations.
"Due to rising interest rates, Hanwha Life Insurance's first-quarter operating profit increased significantly compared to the same period last year, leading to the improvement of Hanwha's operating profit," SK Securities said. "In addition, Hanwha Aerospace improved its performance in the civilian and defense sectors, and Hanwha Solution also increased its operating profit due to the strong chemical sector.".
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
