EcoPro surpassed 700,000 KRW during trading. Despite securities firms' analysis that it is overvalued, it continues to set new 52-week highs.
As of 1:54 PM, EcoPro is trading at 710,000 KRW, up 22.11% (28,000 KRW) from the previous trading day. Starting the day at 591,000 KRW, EcoPro's upward momentum remained strong, breaking through the 700,000 KRW mark.
At this time, foreign investors are net buying 1.355 billion KRW worth of shares. On the other hand, institutions are net selling 22.847 billion KRW worth. The market capitalization has also exceeded 18 trillion KRW, surpassing SK Innovation (17.929 trillion KRW) and Shinhan Financial Group (17.603 trillion KRW).
EcoPro is the holding company of EcoPro BM. While domestic holding companies generally receive a discount valuation, investment sentiment appears to have expanded due to the strong performance of the battery sector and the additional listing of its subsidiary.
On the 4th, Samsung Securities analyst Jang Jeong-hoon stated about EcoPro, "Due to the increase in the value of holdings from the sharp rise in the subsidiary's stock price, the target price is raised to 380,000 KRW," but also noted, "Since the current price is in a significantly overvalued range, the investment opinion is downgraded to 'Hold (Neutral).'"
Meanwhile, foreign investment banks (IBs) such as Morgan Stanley, Macquarie Securities, JP Morgan, and HSBC have said, "EcoPro BM's recent stock price is excessively high," suggesting target prices around 120,000 to 130,000 KRW, about half of the current price.
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