[Featured Stock] Ecopro BM Hits New High on Strong Q2 Earnings

[Asia Economy Reporter Song Hwajeong] EcoPro BM showed a strong performance in the second quarter of this year, rising over 4% and hitting an all-time high during trading hours.

As of 10:02 AM on the 9th, EcoPro BM was trading at 306,200 KRW, up 13,300 KRW (4.54%) from the previous day. During trading, it rose to 306,800 KRW, setting a new all-time high.

This strong performance is interpreted as being due to the robust second-quarter results and expectations that the positive trend will continue. EcoPro BM recorded sales of 310.7 billion KRW, a 64% increase year-on-year on a separate basis for the second quarter, and operating profit of 30.7 billion KRW, up 121%, exceeding market expectations. Hansangwon, a researcher at Daishin Securities, said, "Along with growth in front-end demand, the trailing price increases reflecting raw material cost rises led to balanced sales growth across non-IT sectors, electric vehicles (EV), and energy storage systems (ESS). With continued sales growth and maintained high profitability, the third quarter is expected to set another quarterly record high."

Securities firms have consecutively raised their target prices for EcoPro BM. Daishin Securities raised its target from 310,000 KRW to 350,000 KRW, SK Securities raised theirs from 220,000 KRW to 370,000 KRW and from 285,000 KRW to 350,000 KRW respectively. Shinhan Financial Investment raised its target to 380,000 KRW, and Eugene Investment & Securities raised it to 400,000 KRW.

This content was produced with the assistance of AI translation services.