April 27, 2024
Industrials
Doosan Infracore shares surge
[THE INVESTOR] Stocks of Doosan Infracore traded almost at an yearly high on March 8 as the country‘s leading construction equipment maker’s business performance is expected to imrpove, analysts said.
Analysts said stronger than expected sales of excavators in China is helping the company move up. Doosan Infracore sold a total of 1,202 excavators in China last month, more than quadrupling from a year earlier. Its market share stood at 8.6 percent last year, also up 1.2 percentage points from a month earlier, according to industry sources.
“Doosan Infracore’s performance in China is better than expected, and its bottom line is also expected to improve as well down the road,” said Cho Cheol-hee, an analyst at Korea Investment & Securities.
Doosan Infracore is also set to benefit from the Trump administration’s proposed plan to spend massive amounts of money on infrastructure. Doosan Infracore has been on a steady rise since the US presidential election.
(theinvestor@heraldcorp.com)
Analysts said stronger than expected sales of excavators in China is helping the company move up. Doosan Infracore sold a total of 1,202 excavators in China last month, more than quadrupling from a year earlier. Its market share stood at 8.6 percent last year, also up 1.2 percentage points from a month earlier, according to industry sources.
“Doosan Infracore’s performance in China is better than expected, and its bottom line is also expected to improve as well down the road,” said Cho Cheol-hee, an analyst at Korea Investment & Securities.
Doosan Infracore is also set to benefit from the Trump administration’s proposed plan to spend massive amounts of money on infrastructure. Doosan Infracore has been on a steady rise since the US presidential election.
(theinvestor@heraldcorp.com)
