April 25, 2024

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[THE INVESTOR] CS Wind is reentering the US market in earnest, said Eugene Investment and Securities on Aug. 17, maintaining a “buy” recommendation and 45,000 won (US$39.96) target price.

It has announced a 42.3 billion won contract to supply wind towers to the US, likely to be placed by a turbine manufacturer. This is the first such supply deal since 2012 when it was cut off on anti-dumping charges. In addition, the order seems to have come from a new client which signifies expansion, said Han Byeong-hwa. 

It has already cemented its position as a major supplier in UK, the largest market in sea wind sector, and will be able to expand farther. On the back of two major pillars, it is topping record amount in annual orders and this year will easily surpass US$500 million, forecast the analyst. 

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