Meritz Securities on the 16th raised the target price of Isu Petasys from 54,000 KRW to 57,000 KRW, stating that the company exceeded market expectations for the first quarter.
Isu Petasys recorded sales of 199.6 billion KRW and operating profit of 23 billion KRW in the first quarter of this year. These figures represent increases of 16.1% and 14.0%, respectively, compared to the same period last year.
Researcher Yang Seung-su of Meritz Securities explained, "The headquarters' sales saw a mixed improvement effect as the volume of TPU 5th and 6th generation main models for Company G and switch volumes increased simultaneously," adding, "The volume for the profitable network sector is also showing a gradual recovery."
He continued, "The Chinese subsidiary is experiencing an increase in multilayer substrate volumes for Oracle," and added, "We expect profitability improvement along with mix enhancement."
Researcher Yang emphasized, "Amid strong AI demand, mix improvement beyond market expectations has occurred," stressing, "This is a trend improvement, not a one-time strong performance." He stated, "With additional expansion volumes in the second half, stable top-line growth will also be possible."
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