Doosan Fuel Cell is showing strength amid growing expectations for fuel cell demand centered in the United States. NH Investment & Securities raised Doosan Fuel Cell's target price by 12.5%, from 24,000 KRW to 27,000 KRW.
As of 9:25 AM on the 11th, Doosan Fuel Cell is trading at 23,500 KRW, up 4.21% from the previous day.
On the same day, Jeong Yeonseung, a researcher at NH Investment & Securities, stated, "Recently, electricity demand has increased, and expectations for fuel cell demand centered in the United States are growing," adding, "the general hydrogen power generation market is held once a year, and the domestic fuel cell market is expected to form a market of 170 to 180 megawatts (MW) annually."
Researcher Jeong analyzed, "Doosan Fuel Cell is expected to secure new orders exceeding 100 MW based on a market share of over 60% in the selection of bidders related to the new fuel cell business, anticipated in August to September."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
