April 27, 2024

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[THE INVESTOR] Hyundai Heavy Industries’ earnings will improve most among Korea’s three shipbuilders, said SK Securities on Nov. 19 raising the target price to 170,000 won (US$150.88) from 158,000 won.

Its revenue next year will rise 10.7 percent on-year to 14.19 trillion won and will turn to black with 79.2 billion won operating profit. Its order amount is outstanding and it is certain to turn around on the back of shipbuilding volume increase next year. Operating profit will recover propelled by price rise of its vessels, said analyst Yoo Seung-woo.

It will be able to reach its target this year as it is likely to win orders for approximately 10 additional LNG carriers, the analyst said, suggesting it as a “top pick” in the local shipbuilding industry. 

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