HD Hyundai Electric continued its upward trend for the third consecutive day, hitting a 52-week intraday high.
As of 10:46 AM on the 9th, HD Hyundai Electric is trading at 330,000 KRW, up 9,000 KRW (2.80%) from the previous day.
The stock's strength is attributed to expectations of increased orders due to the expansion of the power equipment cycle. On the same day, SK Securities raised the target price of HD Hyundai Electric from 280,000 KRW to 370,000 KRW, considering the expansion of the power equipment cycle. Naminsik, a researcher at SK Securities, explained, "The power equipment cycle that began in 2022 is still in an expansion phase. Since 2022, new factory constructions in the US have increased, leading to a rise in power equipment orders. Indicators reflecting manufacturers' power equipment orders are setting new records, and in line with forecasts of increased power consumption in the US, utility companies are increasing their capital investments."
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