[Click e-Stock] "Doosan Enerbility Target Price Raised to 130,000 Won...Order Momentum Expanding"

On the 25th, Daishin Securities raised its target price for Doosan Enerbility to 130,000 won, reflecting the full-scale expansion of overseas orders. It maintained its investment rating of "Buy."

In a report published the same day, Minho Heo, a researcher at Daishin Securities, said, "We expect a full-scale expansion of orders from overseas nuclear technology companies, including reactor vessels and steam generators for AP1000 reactors bound for Poland, key equipment for TerraPower's Natrium small modular reactors (SMRs) for the United States, and main equipment for NuScale's VOYGR SMRs for Romania and the United States."

The total order value for Doosan Enerbility this year is projected to reach 14.3 trillion won, including 5.8 trillion won from nuclear power and 5.3 trillion won from gas-fired power generation.

Heo said, "The order value for every two AP1000 reactors is expected to be 1.9 trillion won," adding, "If Korea Electric Power Corporation and Korea Hydro & Nuclear Power are in charge of 'reactor building construction, turbine building and auxiliary equipment EPC' for AP1000 reactors, they could additionally secure orders for steam turbines and generators, some components within the reactors, and construction of main equipment buildings."