Hi Investment & Securities raised its target price from 32,000 won to 43,000 won for Hanwha on the 7th, saying that "performance improvement and growth potential will become visible." The investment opinion remained 'buy'.
"Amid expectations of a solid improvement in performance this year, growth will be visible as it leaps to become a precision chemical company through the expansion of nitric acid production," Hi Investment & Securities said. "Consolidated sales in the first quarter recorded 12.8382 trillion won, down 11.2% from the same period last year, but operating profit during the same period rose 186.2% to 848.5 billion won.".
"In addition to increased sales such as Hanwha Solution Co. and Hanwha Aerospace, operating profit increased sharply due to improved performance of financial affiliates such as Hanwha Life Insurance Co. and Hanwha Insurance," said Hi Investment & Securities "This year's consolidated sales are expected to increase 5.1% on-year to KRW 53.5041 trillion and operating profit is expected to increase 41.1% to KRW 2.2511 trillion.".
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
