[Special Stock] Inox Cheomdan Sosae Soars Over 11% on Profitability Recovery Outlook
Inox Advanced Materials is soaring on expectations that its profitability, which was sluggish last year, will recover.
As of 9:54 a.m. on the 22nd, Inox Advanced Materials is trading at 34,400 KRW, up 3,450 KRW (11.15%) from the previous day.
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On this day, IBK Investment & Securities raised the target price for Inox Advanced Materials from 40,000 KRW to 45,000 KRW, anticipating that growth will continue in the second quarter following the first quarter, and that the profitability, which was weak last year, will return to previous levels. Kim Unho, a researcher at IBK Investment & Securities, said, "Operating profit in the second quarter is expected to increase by 36.1% compared to the first quarter, reaching 21.5 billion KRW, continuing the growth trend seen in the first quarter. Annual sales are forecasted to rise 20.5% year-on-year to 466.3 billion KRW, and operating profit is expected to increase by 85.7% to 78.3 billion KRW, indicating a recovery of profitability to previous levels after last year's slump." He added, "This year, a significant increase in new customer volume is expected, and with entry into the automotive electronics market, additional growth drivers are anticipated, so the current stock price has further upside potential."
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