[Click eStock] "Intellian Tech, Target Price Lowered to 86,000 Won... Down 5.5%"

Shinhan Investment Corp. lowered the target price of Intellian Technologies to 86,000 KRW on the 11th while maintaining a buy rating.

Myeong Ji-woon, Senior Researcher at Shinhan Investment Corp., stated, "We applied a global satellite operator average PER (price-to-earnings ratio) of 20.9 times to the 2025 EPS (earnings per share)."

Intellian Technologies is focusing on mass production technology targeting the entry-level market. They internalize key components to reduce costs, including frequency converters, amplifiers, and sensors for mobility.

This allows them to secure competitiveness compared to other companies and improve the time required for product testing, thereby increasing production speed.

Researcher Myeong said, "They are maintaining strong relationships with global major clients, and we have observed active exchanges with these customers."

It was interpreted that collaboration with major clients such as OneWeb and Company A was facilitated by relationships established through sales activities of maritime antennas with key figures.

Intellian Technologies will begin selling flat panel antennas from the second quarter of this year. Annual flat panel antenna sales are expected to be around 100 billion KRW. The market is blossoming, and considering OneWeb's business expansion trend, there is an expectation of limitless demand. Since the end of last year, Intellian Technologies has increased R&D investment. Although it may feel burdensome in the short term, it is analyzed as an opportunity to secure market leadership through stability and cost reduction in the long term.