April 25, 2024
Stocks & Bonds
[EQUITIES] ‘High expectations for S-Oil in H2’
[THE INVESTOR] S-Oil’s growth momentum will strengthen in the second half as expectations rise for dividends and expansion, said Mirae Asset Daewoo on April 19, maintaining a “buy” recommendation and 110,000 won (US$96.43) target price.
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Its operating profit in the first quarter will come in at 323.9 billion won, down from the forecast due to one-time factors such as oil price and exchange rate, said analyst Park Yeon-ju. Profits from chemical and base oil divisions increased, offsetting the exchange rate’s effect, explained the analyst.
Second-quarter operating profit will remain in line with market estimates and stock price will take an upturn in the latter half when dividends increase, added Park.
By Hwang You-mee (glamazon@heraldcorp.com)
