April 20, 2024

• 

[THE INVESTOR] S-Oil’s earnings will be boosted by the refinery margin and oil price hike following hurricane Harvey, said SK Securities on Sept. 27, maintaining a “buy” recommendation and raising the target price to 140,000 won (US$122.85) from 100,000 won. 

Its third-quarter operating profit will soar 329.2 percent on-year to 498.7 billion won, widely beating market estimates, estimated analyst Son Ji-woo, explaining that the refinery margin spiked as the operation ratio of North American refineries have declined.

However, as global refinery market will expand by 16 percent in the next four years, investors should mull over whether its stock price will rise, added the analyst. 

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