On the morning of the 26th, Hyundai Rotem's stock price is seeing a strong increase of around 10%. This is interpreted as buying pressure due to broker estimates that the company will continue its solid performance in the second quarter.
As of 9:21 a.m. on the 26th, Hyundai Rotem shares are trading at 138,100 won, up 12,700 won (10.13%) from the previous trading day, on the KOSDAQ market. During the day, it recorded a high of 140,500 won, setting a new yearly peak.
Hyundai Rotem reported the largest quarterly results to date for the first quarter (January to March) of this year, and investment sentiment appears to have improved amid expectations from brokers that the company will continue to see strong performance.
Jeong Dong-ik, a research analyst at KB Securities, noted in a report on this day that "the operating profit margin of the defense exports in the current order backlog is expected to maintain above 30%" and added, "There will not be a case where quarterly operating profit falls below 200 billion won in the future."
He also raised the target price for Hyundai Rotem from the previous 120,000 won to 165,000 won and presented Hyundai Rotem as the top pick in the defense sector.
Hyundai Rotem disclosed that it achieved sales of 1.1761 trillion won and an operating profit of 202.9 billion won for the first quarter (January to March) of this year. This represents an increase of 57.3% and 354%, respectively, compared to the same period last year, marking the first time the company has exceeded 200 billion won in quarterly operating profit since its establishment.