[Click e-Stock] "VM Expected to Achieve Record Performance Next Year... Target Price Raised"

Hana Securities analyzed on December 4 that VM is expected to achieve its highest-ever annual revenue next year. The investment opinion was maintained as 'Buy,' and the target price was raised to 39,000 won.

Hana Securities projected that VM's revenue and operating profit next year will reach 213.7 billion won and 52.6 billion won, respectively, representing year-on-year increases of 48% and 117%.

Kim Rokho, a researcher at Hana Securities, stated, "It is estimated that when client companies make new investments in M15x, the use of existing etching equipment will be limited," adding, "As a result, we believe there is high visibility for performance improvement in the first half of next year due to new investments."

He further commented, "Additionally, the scale of conversion investment in 1c nano is estimated to reach around 100,000 units, so the resulting benefits are expected to continue throughout the year."

For the fourth quarter of this year, revenue and operating profit are expected to reach 50.4 billion won and 8.8 billion won, respectively, marking a 53% year-on-year increase and a turnaround to profitability.

He explained, "Driven by clients' conversion investments and new investments in M15x, quarterly revenue is expected to exceed 50 billion won for the first time in over three years since the second quarter of 2022. Both of VM's main products, poly and metal etching equipment, are expected to benefit."

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