[Special Stock] Q2 Earnings Surprise HD Hyundai Electric, Up 6%

HD Hyundai Electric, which recorded an earnings surprise in the second quarter, is showing strong performance in early trading.

As of 10:20 AM on the 24th, HD Hyundai Electric is trading at 370,000 KRW, down 6.94% (24,000 KRW) from the previous trading day.

This is attributed to the impact of strong second-quarter results. HD Hyundai Electric announced that its consolidated sales for the second quarter increased by 43% year-on-year to 916.9 billion KRW, and operating profit rose 257% to 210 billion KRW. All sectors, including power equipment, showed favorable performance, and sales from the U.S. subsidiary increased significantly.

Following the positive earnings news, securities firms unanimously raised their target prices. Kiwoom Securities raised the target price from 300,000 KRW to 450,000 KRW, SK Securities adjusted it from 270,000 KRW to 450,000 KRW, NH Investment & Securities increased it from 350,000 KRW to 410,000 KRW, and Shinhan Investment Corp. raised it from 375,000 KRW to 500,000 KRW.