[Featured Stock] Orion Surges Over 8% Early Session on Strong Q2 Earnings Expectations

[Asia Economy Reporter Myunghwan Lee] Orion is on the rise in the market on the morning of the 15th. This is interpreted as reflecting investors' expectations following forecasts that the company will post strong results in the second quarter.

As of 9:57 a.m. on the day, Orion is trading at 102,000 KRW, up 8.17% (7,700 KRW) from the previous trading day. Orion Holdings, the holding company, is also up 3.94% (550 KRW), trading at 14,500 KRW.

Daishin Securities projected on the 15th that Orion's consolidated sales for the second quarter of this year will increase by 23% year-on-year to 614.6 billion KRW, and operating profit will rise 70% to 93.5 billion KRW.

Han Yujeong, a researcher at Daishin Securities, said, "We expect continued top-line growth exceeding market growth rates in all subsidiaries in Korea, China, Vietnam, and Russia," adding, "Considering that in some countries and categories, unlike competitors, Orion is expected to accelerate market share expansion while maintaining profitability without raising selling prices, the current stock price level is judged to be significantly undervalued."

She maintained a buy rating and a target price of 150,000 KRW for Orion.