April 27, 2024

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[THE INVESTOR] Stocks of Hanwha Corp. could surge more than 30 percent even when they are estimated conservatively, said Hana Financial Investment on April 30, maintaining a “buy” recommendation and 50,000 won (US$44.10) target price. 

Its operating profit in the first quarter will reach 505 billion won and net profit will be 150.7 billion won, estimated analyst Oh Jin-won. 

Its core subsidiaries Hanwha Chemical and Hanwha Life Insurance will grow and its own business will post solid earnings, according to the analyst. Hanwha Engineering and Construction will remain in the black but its values are not reflected on Hanwha’s stock price at all, pointed out Oh. 

By Hwang You-mee (glamazon@heraldcorp.com)