From BigGo Finance · BigGo Finance · · 1m 10s
Hana Securities Cuts Doosan Enerbility Target Price
Hana Securities lowers Doosan Enerbility target price by 27.3% to ₩120,000.
In brief
Hana Securities lowers Doosan Enerbility target price by 27.3% to ₩120,000. Hana Securities reduced Doosan Enerbility's target price from ₩165,000 to ₩120,000 due to lower profit growth than market expectations. Originally reported by BigGo Finance.
Hana Securities Downgrades Doosan Enerbility
Hana Securities lowered its target price for South Korea's Doosan Enerbility by 27.3% from ₩165,000 to ₩120,000.
Third-Quarter Profit Short of Forecast
Third-quarter operating profit estimated at ₩194.1 billion, 41.6% year-over-year increase but 21.9% below market consensus.
Valuation Multiple Adjusted Down
Hana Securities reduced valuation multiple from 50x to 35x while keeping net operating profit after tax unchanged.
Analyst Yoo Jae-sun Explains
Yoo Jae-sun said earnings forecast falling short was due to previously elevated market expectations.
“due to previously elevated market expectations, and the company-wide profit growth trend can still be maintained”
Subsidiary Earnings Divergence
Construction equipment division continues profit growth while fuel cells face profit contraction due to rising costs.
Overseas Nuclear Orders Expansion
Hana Securities identified overseas nuclear power market expansion as key medium-to-long-term growth driver.
“Team Korea's North American pipeline is expanding through investment negotiations with the United States”
Earnings Trajectory for 2028
Consolidated operating profit expected to rise to ₩1.4416 trillion by 2028, 1.1 billion USD.
What matters most
Hana Securities reduced Doosan Enerbility's target price from ₩165,000 to ₩120,000 due to lower profit growth than market expectations.
