Experts Are Already Watching Closely..."Target Stock Price 970,000 Won" Now Only the Uptrend Remains [Weekend Money]

Korea Investment & Securities Maintains "Overweight" on Shipbuilding Sector
2026 First-Half Shipbuilding Industry Review
N-Shaped Pattern... "Earnings Dispelled Concerns"

Shipbuilding Industry. Getty Images

According to Korea Investment & Securities, shipbuilding stocks were not the leading sector in the domestic stock market during the first half of this year, but a stable upward trend is expected going forward. The firm has maintained its "Overweight" recommendation on the sector.

Korea Investment & Securities made this statement in its recently published 2026 first-half shipbuilding industry review report.

Kang Kyungtae, the analyst who authored the report, first noted that "shipbuilding stocks were not the market leaders. The share prices of the three major shipbuilders showed an N-shaped pattern in the first half," adding, "It is important to consider that the KOSPI index rose sharply during the same period."

He explained, "If there was any period during the first half in which shipbuilding stocks were held at a portfolio weighting above the benchmark, it would generally have had a negative impact on relative returns. This was due to several negative factors, such as weak earnings in the fourth quarter of 2025, a decline in LNG carrier market share and delays in the rebound of vessel prices, as well as an oversupply of LNG carriers triggered by the war between the United States and Iran."

The share prices of the three major shipbuilders—HD Hyundai Heavy Industries, Hanwha Ocean, and Samsung Heavy Industries—rallied strongly until mid-January, but then trended downward through early April.

However, this trend reversed and turned upward in April. Analyst Kang emphasized, "Ultimately, it was earnings that dispelled the persistent concerns." Regardless of stock price volatility, commercial vessel orders also showed strong performance. He added, "All three major shipbuilders have continued to deliver strong results compared to 2025," and highlighted, "HD Hyundai Heavy Industries has already achieved about 70% of its aggressive full-year target set at the start of the year."

He went on to say, "The fundamentals of shipbuilding stocks are becoming even stronger after 2028," and maintained the "Overweight" recommendation for the sector, which is expected to continue a stable upward trajectory following the N-shaped pattern. Korea Investment & Securities has set its target price for HD Hyundai Heavy Industries at 970,000 won, Hanwha Ocean at 163,000 won, and Samsung Heavy Industries at 43,000 won.

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