[Click eStock] "Taewoong, Clear Profit Improvement Trend... Target Price Raised"

NH Investment & Securities has raised the target price for Taeung by 13.3% to 17,000 KRW, forecasting improved profitability in the first half of this year.

Researcher Kwak Jaehyuk of NH Investment & Securities analyzed that while uncertainty has increased in the U.S. offshore wind sector, the situation in Europe is improving.

Researcher Kwak stated, "In Europe, turbine OEMs are currently securing offshore wind orders in the European region, stabilizing supply chains, and stabilizing the levelized cost of energy (LCOE) simultaneously," adding, "Taeung's offshore wind new orders in Q4 are the largest throughout 2024, and all of these orders are from the European region."

He further added, "Additional offshore wind project orders in Europe and Asia are expected in the first half of 2025. Although there is business uncertainty in the U.S., it is possible to secure an order for one project currently under construction."

The trend of profitability improvement is expected to continue into 2025. The new order amount for this year is expected to be 400 billion KRW, an increase of 9.8% compared to the previous year.

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