[Featured Stock] Securities Firms Raise Target Price... HD Hyundai Heavy Industries 'Strong Performance'

HD Hyundai Heavy Industries is showing strength on the morning of the 8th amid securities firms' forecasts predicting an increase in sales this year.

Yonhap News

According to the Korea Exchange, as of 9:20 a.m. on the day, HD Hyundai Heavy Industries is trading at 295,000 KRW, up 2.25% (6,500 KRW) from the previous session.

This is interpreted as a result of positive sales forecasts, including raising the target price for HD Hyundai Heavy Industries based on favorable business conditions this year.

Jung Dong-ik, a researcher at KB Securities, stated in a report on the day, "The order backlog based on sales is expected to have slightly decreased from 32.25 billion USD at the end of 2023 to 30.12 billion USD," but added, "It still represents a sufficient workload equivalent to 2.6 years of expected sales this year."

He also announced that the target price would be revised upward from the previous 220,000 KRW to 340,000 KRW, reflecting the favorable business conditions.

This year's guidance for HD Hyundai Heavy Industries includes sales of 15.8 trillion KRW and new orders of 12.58 billion USD. Researcher Jung analyzed, "The guidance reflects the intention to increase the order backlog through orders for special ships and offshore plants despite concerns about economic slowdown and the rise of protectionism, while continuing the sales growth trend based on an order backlog exceeding 30 billion USD and stabilized processes."