Hanwha Solutions, which had its trading suspended since the 27th of last month due to the Galleria spin-off, is showing strong performance immediately after trading resumed.
As of 9:22 AM on the 31st, Hanwha Solutions is trading at 54,900 KRW, up 3,000 KRW (5.78%) from the previous trading day.
In the securities industry, there is an expectation that Hanwha Solutions will continue to show strong momentum, as global solar companies' stock prices have been bullish over the past month due to optimism surrounding the U.S. Inflation Reduction Act (IRA) and the European Critical Raw Materials Act (CRMA).
On this day, Yoojin Jeon, a researcher at Hi Investment & Securities, released a report stating, "The stock price of U.S. solar module manufacturer First Solar rose about 30% during the period when Hanwha Solutions' trading was suspended," adding, "Considering that Hanwha Solutions will have a similar scale of production capacity by 2024 and that the IRA tax benefits apply equally, it is possible to narrow the valuation gap with comparable companies that widened during the past month of trading suspension."
Furthermore, Researcher Jeon maintained the existing target price of 67,000 KRW and a 'Buy' investment rating for Hanwha Solutions.
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