April 19, 2024

• 

[THE INVESTOR] Doosan’s stock price will rise on the back of solid earnings in the first quarter, said Hana Financial Investment on March 12, maintaining a “buy” recommendation and 170,000 won (US$159.73) target price.

Its operating profit will hike 31 percent on-year to 64.3 billion won as electronics business will prove improvement despite growing concerns, and orders for fuel cells in the period will reach 330 billion won topping the annual amount, forecast analyst Oh Jin-won.

Revenue from its electronics business group in the first quarter will rise compared to the same period last year and fuel cell sector is expected to win more orders and turn to black to profit, explained the analyst. 

Its stock price has tumbled over 30 percent from the peak in the fourth quarter last year, and may rise approximately 20 percent, said Oh adding that now is the time to purchase its stocks as it will join the mid-cap firms on KOSPI. 

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