[Featured Stock] Pungsan Rises 7.41% on Copper Rebound and Strong Defense Earnings

Pungsan's stock price is on the rise due to the expected rebound in copper prices and the high-profit trend in the defense industry.

As of 11:08 AM on the 21st, Pungsan was trading at 71,000 won, up 4,900 won (7.41%) from the previous trading day.

Sangsangin Securities initiated coverage on Pungsan with a buy rating and a target price of 87,000 won. They forecast the third-quarter earnings to be 1.1 trillion won in sales and 82.8 billion won in operating profit, representing increases of 19.6% and 143.5% respectively compared to the same period last year. In this case, the operating profit exceeds the market consensus estimate of 69.9 billion won.

Researcher Kim Jinbeom of Sangsangin Securities said, "In the fourth quarter, the seasonal peak in the defense sector along with strong copper prices is expected to drive growth in both revenue and profit," "China's economic stimulus measures and concerns over copper concentrate supply will support further copper price strength next year. Increasing the production capacity of large-caliber ammunition in the first half of next year is expected to firmly maintain the high profitability of the defense sector."