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THE INVESTOR
April 04, 2020
Big Reunion

Stocks & Bonds

[EQUITIES] ‘Hyundai Rotem gains speed in winning orders’

  • PUBLISHED :October 16, 2018 - 10:36
  • UPDATED :October 16, 2018 - 10:36
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[THE INVESTOR] Hyundai Rotem’s order backlog is growing at a positive speed, said Eugene Investment and Securities on Oct. 16 maintaining a “buy” recommendation and raising the target price to 31,200 won (US$27.65) from 22,500 won.




As it is in locomotive business, the company is generally associated with North Korean situations, but investors should pay attention to its order backlog. The amount of new orders rose to 2.5 trillion won in 2016 and 2017, from 588.1 billion won in 2015, and the upward trend continues. It has won orders worth 632.7 billion won, including in Korea and Bangladesh in the third quarter alone. As of end-June, the backlog amount topped 6 trillion won, double that of the fourth quarter in 2015, he said, said analyst Lee Sang-woo.

Hyundai Rotem’s recent stock price has been fluctuating due to the dramatic changes in inter-Korean relationship. But it should be noted that it has been undervalued in the past due to slow earnings improvement and now can be expected to rally, underlined the analyst. 

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

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