[Featured Stock] Posco Future M, Benefiting from GM Expectations, Up 5.29%

Posco Future M, which counts General Motors (GM) as a major client and posted surprising earnings in the third quarter this year, is experiencing a rise in its stock price.

As of 10:40 AM on the 28th, Posco Future M was trading at 239,000 KRW, up 12,000 KRW (5.29%) from the previous trading day.

In the third quarter, GM recorded results that exceeded market consensus thanks to steady sales momentum in the North American market and pricing policies above the industry average. KB Securities commented on Posco Future M, stating, "GM accounts for more than 50% of the sales proportion of cathode materials, so GM's surprising third-quarter earnings are welcome news," maintaining a buy rating and a target price of 320,000 KRW.

Lee Chang-min, a researcher at KB Securities, said, "GM mentioned that electric vehicles have already approached the breakeven point due to improvements in cost structure, making the mid- to long-term business visibility clearer than market concerns. If GM maintains its planned high growth, the benefit intensity will further expand," adding, "Next year's annual performance is expected to reach sales of 5.1 trillion KRW and operating profit of 199.2 billion KRW, representing increases of 28% and 127%, respectively, compared to this year."