April 19, 2024

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[THE INVESTOR] S&TC’s earnings for the whole year will slow down, said Hana Financial Investment on May 25, downgrading its recommendation to a “neutral” from a “buy” and lowering the target price to 20,000 won (US$17.89) from 25,000 won.

Its has bagged orders worth 38 billion won so far and will reach up to 200 billion won by the end of this year, according to analyst Park Mu-hyeon. 

The energy plant engineering company’s orders in the first quarter were sluggish as projects in the Middle East continue to be delayed and exchange rate has not been favorable. The orders will pick up from the fourth quarter and its stock price will recover gradually, explained the analyst.

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