April 24, 2024

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[THE INVESTOR] The operating profit of Doosan’s own business is showing sharp growth, said NH Investment and Securities on Sept. 5, maintaining a “buy” recommendation and raising the target price to 179,000 won (US$160.21) from 154,000 won.

Existing businesses, including electronics and industrial vehicles, are growing steadily while new businesses such as fuel cell and duty-free distribution are advancing, prompting a surge in operating profit, said analyst Kim Dong-yang.

As it bags new fuel cell orders in earnest, the sector will grow at an average of up to 29 percent every year until 2023. The duty-free department has secured stability by merging Doota Mall and being granted five more years for a patent. It is actively adjusting its business portfolio thus strengthening its own businesses and maintaining promotion of shareholder values, he added.

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