April 25, 2024

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[THE INVESTOR] Hyundai Construction Equipment’s profitability momentum will continue as the excavator market flourishes, said Yuanta Securities Korea on Jan. 16, raising the target price to 260,000 won (US$244.36) from 220,000 won.

China will continue to invest in infrastructure and is likely to remain a strong market at least until the high season ending April, said analyst Lee Jae-won. 

North America and Europe are showing a positive upturn in construction and in the US in particular, will bolster its earnings, said the analyst. 

The positive outlook will continue for Hyundai CE and overall evaluation for its global peers are rising too, noted Lee. 

Its revenue in the fourth quarter last year will rise 32.9 percent on-year to 584.4 billion won and operating profit by 285 percent to 36.6 billion won, estimated the analyst. 

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