[Featured Stock] Kyungdong Navien Rises 4.55% on North America Growth and Record Earnings

Kyungdong Navien's stock price is on the rise, with record-high performance expected, driven by high growth in the North American region.

As of 10:18 AM on the 11th, Kyungdong Navien was trading at 80,400 KRW, up 3,500 KRW (4.55%) from the previous trading day.

DS Investment & Securities stated on the same day, "Record-high performance is expected next year following this year. The valuation (price level relative to corporate value) is very attractive," initiating coverage on Kyungdong Navien with a buy rating and a target price of 130,000 KRW.

They particularly highlighted the high growth rate of the North American business. Products sold in North America are priced 2.5 to 3 times higher than domestic products, resulting in higher profit margins per unit. Kim Suhyun, a researcher at DS Investment & Securities, said, "Existing products such as condensing water heaters, which account for more than 70% of North American sales, are expected to continue growing at a rate of 10-15%. The condensing hydro furnace (model NPF 700), which underwent product stabilization this year, is expected to experience significant growth in the North American market next year."