April 27, 2024

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[THE INVESTOR] Hanwha Chemical has satisfied third-quarter earnings expectations, said Meritz Securities on Nov. 13, maintaining a “buy” recommendation and 45,000 won (US$40.16) target price. 

Profits from all sectors except for the solar energy unit remained strong and chemical division in particular gained on the back of strong demand for PVC and caustic soda, said analyst No Woo-ho. 

Although PVC will enter a low season in the fourth quarter and its price will dip temporarily, Hanwha’s fundamentals will further strengthen next year, according to the analyst. 

Westlake of the US, its PVC and caustic soda market competitor, posted a record US$372.4 million profit in the third quarter and its stock price reached a record high. Hanwha’s stock price is relatively low compared to its global peers, he said.

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