[Click eStock] Hyundai Doosan Infracore, Declining Chinese Market... Target Price Lowered
[Asia Economy Reporter Hwang Yoon-joo] Daishin Securities upgraded its investment opinion on Hyundai Doosan Infracore to 'Buy' on the 7th, while lowering the target price to 7,200 KRW.
Lee Dong-heon, a researcher at Daishin Securities, stated, "In the fourth quarter of 2021, sales decreased by 54% year-on-year and operating profit fell short of expectations due to the contraction of the Chinese market, rising raw material prices, and increased logistics costs."
The researcher analyzed, "The decline in the significant Chinese market is somewhat burdensome," but added, "The Chinese economic stimulus policy is a hopeful variable."
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He forecasted, "The annual management plan for this year targets sales of 4.9 trillion KRW and an operating profit margin of 7.5%," and anticipated, "Synergies among construction equipment group companies are expected following the acquisition by Hyundai Heavy Industries Group."
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