[Featured Stock] Pungsan, 'Defense Export Sailing Smoothly', Up 4.90%

The stock price of Poongsan, whose defense export industry is sailing smoothly, is on the rise.

Featured Stock
Featured Stock.

As of 11:46 AM on the 1st, Poongsan is trading at 66,400 KRW, up 3,100 KRW (4.90%) compared to the previous trading day.

On this day, Samsung Securities maintained a buy rating and a target price of 82,000 KRW for Poongsan. Jaeseung Baek, a researcher at Samsung Securities, said, "Although the upward trend in copper prices seems to have eased, it is not easy for mining companies to quickly recover from supply cuts," adding, "This is interpreted as entering a phase of maintaining a stable price level rather than a price decline." Currently, Poongsan's stock price has risen about 61% since the beginning of this year due to the defense export business and rising copper prices.

He also analyzed, "Although the expansion of 155mm artillery shells is underway in the United States, it will not be easy to resolve the short-term shortage. Therefore, the solid performance trend of the defense export business is expected to continue."

Researcher Baek said, "It is clear that the second quarter of this year is a strong performance rebound period, but the performance in the second half of the year is also expected to meet current market expectations," and added, "Based on the increase in 155mm artillery shells, defense performance is expected to grow next year as well."