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THE INVESTOR
April 09, 2020
Big Reunion

Stocks & Bonds

[EQUITIES] ‘Hankook Tire slows down in Q3’

  • PUBLISHED :October 30, 2018 - 11:53
  • UPDATED :October 30, 2018 - 11:53
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[THE INVESTOR] Hankook Tire has been slow in the third quarter, said SK Securities on Oct. 30 lowering the target price to 60,000 won (US$52.55) from 80,000 won.





Bogged down by deteriorating sales and rising costs, its revenue in the period fell 3.8 percent on-year to 1.76 trillion won and operating profit by 15 percent to 184.6 billion won. Its Tennessee factory has not yet reached breakeven point which is worrisome, said analyst Kwon Soon-woo.

Increasing shares of over-17 inch tire sales and price rise as well as growing expectations for larger dividends, however, are positive, added the analyst maintaining a “buy” recommendation. 

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

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