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The Korea Herald
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THE INVESTOR
March 29, 2024

Stocks & Bonds

[EQUITIES] ‘Doosan Heavy slows down in Q3’

  • PUBLISHED :November 01, 2018 - 11:39
  • UPDATED :November 01, 2018 - 11:39
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[THE INVESTOR] Doosan Heavy Industries and Construction has been slow in the third quarter, said Samsung Securities on Nov. 1 lowering the target price to 11,500 won (US$10.10) from 16,600 won while maintaining a “hold” recommendation. 




Its revenue and operating profit in the period came in at 3.4 trillion won and 211.7 billion won, respectively, missing market consensus. Despite subsidiary Doosan Infracore’s strong performance, its flagship heavy industry struggled, said analyst Han Yeong-su, lowering its earnings prospects for this year and next.

Its stock price has dropped 27 percent in one month, but it is hard to find its valuation attractive as it lacks momentum to raise the value of heavy industry business, he added. 

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

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