[Click e Stocks] "Wonik Materials, Target Price Maintained at 48,000 Won"

[Asia Economy Reporter Park So-yeon] Shinhan Financial Investment announced on the 24th that it maintains a target price of 48,000 KRW and a buy rating for Wonik Materials.

Wonik Materials recorded sales of 79.3 billion KRW and operating profit of 14.3 billion KRW in the third quarter of this year. These figures represent increases of 9.4% and 16.9%, respectively, compared to the previous quarter. The increase in production from Samsung Electronics' P2 line contributed to the improved performance, resulting in record-high sales.

Shinhan Financial Investment forecasted that Wonik Materials will achieve sales of 82.6 billion KRW and operating profit of 13 billion KRW in the fourth quarter. It anticipated that the increase in QD OLED production from its client will contribute to sales growth. Due to the increased semiconductor production capacity and the rise in NAND layers at Samsung Electronics, a client, the annual sales and operating profit for this year are projected at 303.9 billion KRW and 50 billion KRW, respectively.

It analyzed that in the first quarter of next year, an imbalance in raw material supply and demand is expected to cause a rise in specialty gas sales prices. The sales forecast for 2022 is 349.4 billion KRW, with an operating profit of 60.4 billion KRW.