[Market Highlight] SeAH Besteel Holdings Jumps 9% on Aerospace Growth Expectations

On January 12, SeAH Besteel Holdings is showing strong performance amid expectations for growth in the aerospace sector.

As of 10:35 a.m. on this day, shares of SeAH Besteel Holdings are trading at 67,300 won, up 5,600 won (9.08%) from the previous trading day.

This rise in share price is related to the news that, on January 9 (local time), the U.S. Federal Communications Commission (FCC) approved the additional deployment of SpaceX’s next-generation Starlink satellites, leading to gains in stocks related to SpaceX.

This is because SpaceX is expected to become a major customer for the nickel-based special alloys produced by SST, SeAH Besteel Holdings’ U.S. specialty alloy subsidiary.

The securities industry has also raised its target price for SeAH Besteel Holdings.

Lee Jaekwang, a researcher at NH Investment & Securities, raised the target price for SeAH Besteel Holdings to 74,000 won on this day, up 29.8% from the previous estimate.

He explained, "If SpaceX’s initial public offering, expected at the end of this year, enables capital raising and accelerates the transition to mass production of the Starship currently under testing, we anticipate a faster growth rate for SST."