April 20, 2024

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[THE INVESTOR] Samsung Engineering’s earnings will begin to improve from next year, said NH Investment and Securities on April 16, maintaining a “hold” recommendation. 

Its revenue in the first quarter this year will come in at 1.22 trillion won (US$1.14 billion) with operating profit of 23.6 billion won, satisfying market expectations, said analyst Lee Min-jae.

It already won orders worth 4.8 trillion won, including order from Oman, Bahrain and UAE, and is expected to bag more deals, according to the analyst. 

From the fourth quarter this year, projects in Oman and Bahrain will boost its growth and profitability, forecast Lee raising the target price to 14,000 won from 12,500 won.

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