Kakao 17ten-thousand won→3ten-thousand won plunge, Hanwha Ocean expects 54trillion won in orders
Kakao’s share price fell from 17ten-thousand won to 3ten-thousand won, and securities firms successively lowered their price targets. Meanwhile, Posco Holdings was cited as having 75% upside potential on expectations for steel and lithium, while Hanwha Ocean drew attention over the possibility of winning the Canadian submarine project, worth up to 54trillion won.
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Kakao’s share price fell from 17ten-thousand won to 3ten-thousand won. Several securities firms lowered their target prices. The company’s recently disclosed results include items that improved year on year, but the securities firms issued breaking news after lowering their targets.
One stock hit a record low, but its quarterly results reached an all-time high. Some securities firms raised expectations of spillover benefits for Korean companies.
As expectations for Posco Holdings’ steel and lithium businesses came into focus, securities analysts mentioned 75% upside potential. The relevant reports cited demand for steel and battery raw materials as the basis for growth.
Although Celltrion reported solid quarterly results, securities firms lowered their price targets. Growth rates by business segment and a valuation reassessment were cited as reasons for the target-price cuts.
Hanwha Systems shares strengthened in response to expectations of a Canadian submarine order. Hanwha Ocean was also included among the companies expected to win an order in Canada’s submarine project, with a scale of up to 54trillion won being mentioned.
Domestic securities firms adjusted their investment opinions regarding individual companies’ earnings, order news, and price-target changes. Reports and disclosures announced from month 7 through 6 day to 7 day triggered these changes.