Hanwha Aerospace recorded a 52-week high from the beginning of trading on expectations that its second-quarter earnings will improve.
As of 9:46 a.m. on the 19th, Hanwha Aerospace is trading at 127,400 won, up 9.08% (10,600 won) from the previous trading day. The stock price rose to 130,100 won early in the session, setting a new 52-week high.
On this day, IBK Investment & Securities raised the target price for Hanwha Aerospace from 110,000 won to 160,000 won, stating that the company is expected to deliver second-quarter results in line with market expectations this year.
Lee Sang-hyun, a researcher at IBK Investment & Securities, said, "We expect second-quarter sales to be 2 trillion won and operating profit to be 129.9 billion won, both in line with consensus."
The researcher explained, "The Aero division is expected to see increased sales from long-term supply contracts in the second quarter due to the recovery of the aviation industry," adding, "The second contract with Poland, expected to exceed 8 trillion won, is also anticipated to be finalized after next month."
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