[Featured Stock] Iljin Electric, Ultra-High Voltage Transformer Orders Up and New Expansion Effects Expected

On the 17th, Iljin Electric showed a sharp upward trend in the stock market. On the same day, Yuanta Securities projected a target price of 35,000 KRW, anticipating that Iljin Electric's performance improvement trend will continue.

As of 10:30 AM on the day, Iljin Electric was trading at 24,500 KRW, up 9.13% from the previous day's closing price. During the session, the stock price even surpassed 25,000 KRW at one point.

Iljin Electric's stock price had previously exceeded the 30,000 KRW mark in May this year due to an increase in orders for ultra-high voltage transformers. However, following a short-term surge, the stock underwent a two-month correction starting in July and fell below the 16,000 KRW level in September.

Since then, the stock has shown an upward trend over the past month, recovering to 25,000 KRW for the first time in about three months. Expectations that the performance improvement trend will continue, driven by increasing orders for its main product, ultra-high voltage transformers, have pushed the stock price back up.

In a report on the day, Yuanta Securities stated, "With cumulative orders for ultra-high voltage transformers reaching 2.2 trillion KRW and production capacity (CAPA) increasing due to the expansion of the Hongseong factory, sales and profits are expected to start increasing significantly from the fourth quarter of this year." They also set the target price at 35,000 KRW, more than 50% higher than the current stock price.