[Click eStock] "Wonik QnC, Top SoBuJang Pick... Third Target Price Hike This Year"

Shinhan Investment & Securities has raised its target price for Wonik QnC from 45,000 won to 60,000 won. This is the third upward revision so far this year.

Kangho Oh, a researcher at Shinhan Investment & Securities, highlighted Wonik QnC as his top pick among materials, components, and equipment (SOFTOPIC: 소재·부품·장비, commonly referred to as "SoBuJang") companies, according to a report published on the 12th. Researcher Oh stated, "Despite sluggish consolidated operating profit in the first quarter, our 2026 estimates have been raised by 14%," adding, "It is a representative materials, components, and equipment company that stands out for its valuation attractiveness."

Wonik QnC's operating profit for the first quarter was 21.9 billion won, which fell short of market expectations by 11%. However, this figure marks a 15% increase compared to the previous year. The core business of quartz sales and profitability also delivered a positive surprise.

Researcher Oh commented, "Due to improving market conditions and increased demand from client companies, we expect Wonik QnC to enter a period of stepwise growth through the third quarter," and projected, "The utilization rate for major clients will be around 90 to 95%." He also emphasized, "Attention should be paid to the growth story of the core semiconductor business," and added that "subsidiaries are also expected to show improved performance in the second quarter." He diagnosed that the company is poised to become a leading beneficiary and growth company in the IT cycle.

The expansion of facility investment was also noted as a key point. Wonik QnC plans to invest approximately 25 billion won in facilities this year. Researcher Oh explained, "Production capacity is expected to increase by about 45 billion won," and anticipated, "Some operations will begin in the fourth quarter. Expectations for structural, not just short-term cyclical, growth are likely to expand."

He further stated, "With the recent improvement in the semiconductor industry, materials and components companies have entered a period of valuation reassessment," and added, "Valuation attractiveness compared to peers is also notable."

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