April 20, 2024

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[THE INVESTOR] Hansae will meet earnings expectations in the second quarter, said Hana Financial Investment on July 18, raising the target price to 30,000 won (US$26.60) from 26,000 won.

Its revenue will reach 399.7 billion won with operating profit of 13.9 billion won, satisfying market consensus, as its OEM sector’s revenue in dollars will rise 11.5 percent on-year, forecast analyst Lee Hwa-yeong.

Orders from major clients will resume as its earnings pick up after restructuring, but it will take longer to see improved profits as prices are declining in the US, said the analyst. 

The stock price rise will be limited until both external growth and profit improvement are confirmed, added Lee maintaining a “hold” recommendation. 

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