On the 29th, Hyundai Motor Securities raised its target price from 5,400 won to 5,800 won, saying that performance improvement in all business divisions, centering on eye level, is visible for Daekyo. Investment opinion maintains 'BUY'.
“Despite the impact of COVID-19, Soluny and its domestic and overseas subsidiaries recorded overall recovery, including eye level, the main business,” said Hyundai Motor Securities.
“The sluggish earnings flow was inevitable until the first half of the year due to the prolonged corona virus, but gradual earnings improvement is possible in the second half,” said Hyundai Motor Securities.
Annual consolidated sales for this year are expected to increase 2.1% from the previous year to KRW 640.3 billion and operating profit to turn to the black of KRW 3.7 billion.
Hyundai Motor Securities emphasized that “the earnings turnaround and growth strategy in the second half is expected to act as an opportunity for a share price revaluation.”
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
