April 19, 2024

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[THE INVESTOR] Poongsan will satisfy market expectations in the fourth quarter as the copper price rises and sales in the defense sector normalize, NH Investment and Securities said Dec. 26, maintaining its “buy” recommendation for the company. 

Its revenue will rise 8.4 percent on-year to 879.4 billion won (US$816.53 million) and operating profit 14.9 percent to 69.0 billion won, the second-highest next to the record figure in the first quarter, analyst Byeon Jong-man estimated. 

The price of copper will remain strong because of constraints on supply, which will boost Poongsan’s undervalued stock price, the analyst said. 

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