[Featured Stock] Kolon Plastics Surges on Strong Earnings Expectations for 'Hydrogen Theme'

[Asia Economy Reporter Ji Yeon-jin] Kolon Plastics is showing a surge of over 25% on the 8th, reflecting expectations of improved performance related to its hydrogen material business.

As of 10:27 AM, the stock is trading at 12,700 KRW, up 25.12% (2,550 KRW) compared to the previous day. This is a 52-week high.

Earlier, Shinhan Financial Investment forecasted on the 2nd that Kolon Plastics would achieve record-high performance in the third quarter, and the stock even hit the upper price limit. At that time, Shinhan Financial Investment highlighted expectations for train and hydrogen materials, raising Kolon Plastics' target price to 11,000 KRW. Lee Jin-myung, a researcher at Shinhan Financial Investment, said, "Third-quarter sales and operating profit are expected to reach 118.4 billion KRW and 10.5 billion KRW respectively, marking the highest performance ever with increases of 18% and 27% compared to the same period last year. Although raw material and freight costs have risen, selling prices have also increased, so performance is expected to continue improving."

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