[Featured Stock] InnoX Advanced Materials Hits New High on Continued Strong Earnings Outlook
[Asia Economy Reporter Song Hwajeong] InnoX Advanced Materials showed strong performance, recording a 52-week high during the session amid expectations that this year will continue to be the best performance since its founding.
As of 9:58 AM on the 18th, InnoX Advanced Materials was trading at 55,500 KRW, up 3,100 KRW (5.92%) from the previous day. During the session, it rose to 55,900 KRW, setting a new 52-week high.
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The outlook for continued strong performance this year is interpreted as the driving force behind the stock price increase. Shinhan Financial Investment raised the target price for InnoX Advanced Materials from 55,000 KRW to 70,000 KRW, expecting the company to continue achieving its best-ever performance this year. The investment rating was maintained at 'Buy.' Shinhan Financial Investment estimated this year's sales and operating profit for InnoX Advanced Materials at 533.5 billion KRW and 113.5 billion KRW, respectively, representing increases of 12% and 22.7% compared to the previous year.
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