April 19, 2024

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[THE INVESTOR] Samsung C&T stocks are underpriced, said Hana Financial Investment on Oct. 16, maintaining a “buy” recommendation and raising the target price to 190,000 won (US$168.39) from 170,000 won.
 

Its third-quarter operating profit will be slightly higher than market consensus at 243.2 billion won, as solid profits from trading sector and improved earnings of leisure division offset the declining construction department, said analyst Oh Jin-won. 

The value of Samsung group’s shares spiked 61 percent from the end of 2016 to 35 trillion won and is close to 30 percent of its total market value, estimated the analyst. Factoring in that its construction business is returning to normal and trading arm’s earnings volatility has decreased, the 17 percent stock price rise since the beginning of this year is relatively small, said Oh.

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