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The Korea Herald
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THE INVESTOR
March 29, 2024

Stocks & Bonds

[EQUITIES] ‘Hyundai Mipo rebounds in earnest’

  • PUBLISHED :May 04, 2018 - 11:26
  • UPDATED :May 04, 2018 - 11:26
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[THE INVESTOR] Hyundai Mipo Dockyard has begun to regain in earnest as its operating profit in the first quarter beat market consensus, said Shinhan Investment on May 4, raising the target price to 140,000 won (US$130.08) from 135,000 won.




Its operating profit was 180 percent higher than expected, and the price rise of vessels in particular is encouraging, said analyst Hwang Eo-yeon.

Its earnings will improve throughout the year, as revenue will increase 10.3 percent on-year to 2.7 trillion won and operating profit by 27.3 percent to 137.4 billion won, estimated the analyst, adding that order amount will hike 26.6 percent to US$2.9 billion. 

The shipbuilder’s orders recovered last year and revenue will follow suit this year. Considering that demand for its main ship model is improving, its market share is rising from restructuring of smaller shipbuilders and order backlog has been increasing, it is still a “top pick” in the industry, said Hwang.

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

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