April 25, 2024

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[THE INVESTOR] POSCO Daewoo’s earnings this year will hit a record high on the back of rising gas price and boom in raw materials business, said Shinhan Investment on April 2, raising the target price to 28,000 won (US$26.46) from 25,000 won.

Analyst Heo Min-ho estimated that its operating profit in the first quarter will jump 28.4 percent on-year to 141.6 billion won and for the whole year by 39.4 percent to 559.3 billion.

Daily sales volume of gas will increase 13.1 percent and sales price will rise 10.6 percent, noted the analyst, adding that steel trading business will continue to thrive as well. 

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