[Featured Stock] Hanwha Ocean Soars 3.70% on Strong Earnings Performance

Hanwha Ocean's stock price is on the rise, expected to perform well due to the stabilization of shipbuilding processes and the effect of the rising exchange rate.

As of 10:43 AM on the 31st, Hanwha Ocean was trading at 58,800 KRW, up 2,100 KRW (3.70%) from the previous trading day.

In the fourth quarter of last year, Hanwha Ocean reported consolidated sales of 3.2532 trillion KRW, a 45.8% increase compared to the same period the previous year, and recorded an operating profit of 169 billion KRW, turning profitable. In particular, the offshore plant business segment benefited from contract price increases due to the high exchange rate.

On the same day, Shin Young Securities raised the target price for Hanwha Ocean from 43,000 KRW to 63,000 KRW, maintaining a buy rating. Researcher Eom Kyung-ah of Shin Young Securities said, "This is just the first player to show a turnaround due to escaping deficit orders in shipbuilding and process stabilization," adding, "Only enjoyable times remain this year, full of performance momentum."