[Featured Stock] Hugel Hits New High on Q2 Earnings Surprise

Hugel is showing strong performance with a surprise earnings report in the second quarter of this year. It hit a new 52-week high during trading.

As of 9:18 AM on the 8th, Hugel is trading at 261,000 KRW, up 6,000 KRW (2.35%) from the previous day. During the session, it rose to 270,000 KRW, setting a new 52-week high again.

In the second quarter, Hugel recorded sales of 95.4 billion KRW, a 17% increase compared to the same period last year, and operating profit of 42.4 billion KRW, up 51.6%. Jeonghyun Kim, a researcher at Kyobo Securities, stated, "This significantly exceeds the consensus (average securities firm forecast) of 90.9 billion KRW in sales and 32.7 billion KRW in operating profit." He analyzed, "The background of the earnings surprise includes recognition of large-scale toxin sales in China, lower-than-expected costs from the U.S. International Trade Commission (ITC), reduced labor costs, and overall research and development (R&D) and marketing expenses being executed at reasonable levels." Kyobo Securities raised Hugel's target stock price from 250,000 KRW to 300,000 KRW. They also forecast Hugel's full-year performance with sales increasing 15.1% year-on-year to 367.9 billion KRW and operating profit rising 26.5% to 149 billion KRW.