April 19, 2024

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[THE INVESTOR] Hanwha Chemical’s operating profit in the latter half will decline, said NH Investment and Securities on Aug. 16, lowering the target price to 32,000 won (US$28.29) from 42,000 won.

Its operating profit in the second quarter fell 15.7 percent on-year to 184.4 billion won but was higher than the previous quarter as basic material sector gained from electricity rate cut and favorable exchange rate. But in the third quarter, it will slide down to 142.7 billion won, as power bills will rebound, said analyst Hwang Yu-sik.

In the latter half, though, if caustic soda and PVC prices recover, its stock price will follow suit, said the analyst maintaining a “buy” recommendation. 

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