KB Securities raised the target price for Doosan Enerbility to 44,000 won, a 12.8% increase. This is due to an acceleration in securing contracts for small modular reactors (SMRs) and the potential expansion of the large nuclear power market.
On the 20th, KB Securities noted that it is in negotiations with two U.S. data center companies targeting gas turbine supply for 2027 and 2028, forecasting Doosan Enerbility's sales at 16.78 trillion won and operating profit at 1.118 trillion won for this year.
Jeong Hye-jeong, a KB Securities researcher, said, "Doosan Enerbility has already secured material orders for six modules from SMR partner NuScale Power and plans to additionally secure orders for 12 equipment and six materials within this year."
KB Securities' analysis indicates that the increase in data centers using artificial intelligence and the rising demand for electricity due to electrification are also positive factors for Doosan Enerbility. This is based on the judgment that it leads to demand for large nuclear power and liquefied natural gas (LNG) combined power generation, in addition to SMRs.
The researcher said, "Countries are increasingly adopting strategies to respond to the rapidly growing electricity demand, led by the U.S., by relying on nuclear power and SMRs in the long term, and LNG combined power generation in the medium term."