[Click eStock] "Due to Bulk Carrier Market Conditions..." Pan Ocean Lowers Target Stock Price

On the 12th, KB Securities adjusted the target price for Pan Ocean down by 6.1% to 4,600 KRW, reflecting the weak bulk carrier market conditions. However, they maintained their previous 'Buy' investment rating. The closing price of Pan Ocean the previous day was 3,400 KRW.

KB Securities forecasted Pan Ocean's operating profit for this year to be 467.6 billion KRW, a 0.8% decrease compared to the previous year. This figure is an 8.9% downward revision from KB Securities' earlier forecast.

Analyst Kang Sung-jin stated, "While China's economic stimulus policies could serve as a catalyst for Pan Ocean's stock price increase, it is not yet the right time to rush into buying the stock," adding, "The stimulus measures in China are expected to proceed gradually." Therefore, the bulk carrier market conditions in the first quarter of this year are expected to be weaker than in the fourth quarter of last year.

On the other hand, on the same day, Daishin Securities maintained a 'Buy' rating and a target price of 5,000 KRW, citing that Pan Ocean's fourth-quarter sales exceeded previous estimates by more than 40%, and operating profit surpassed estimates by about 18%. Pan Ocean's fourth-quarter sales announced on the 7th were 1.6755 trillion KRW, and operating profit was 109.8 billion KRW.

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