[Market Focus] HD Hyundai Infracore Hits Record High as Brokerages Raise Target Prices

by Kim Jinyeong

Published 24 Jul.2025 09:15(KST)

HD Hyundai Infracore is showing strong performance in early trading.

As of 9:03 a.m. on July 24, HD Hyundai Infracore was trading at 14,600 won, up 10.36% (1,370 won) from the previous day. At one point during the session, it soared to 14,640 won, marking a new 52-week high.

Investor sentiment appears to have been boosted as securities firms have released a series of reports raising their target price for HD Hyundai Infracore, amid growing expectations for improved engine profitability due to a recovery in the construction equipment industry.

Bae Sungjo, a researcher at Hanwha Investment & Securities, stated in a report released on the same day, "Given the confirmed high profitability from sales growth in generator engines (estimated to account for 30% of engine sales) and defense engines (estimated at 10%), it is inevitable to raise future engine margin estimates," raising the target price by 13.3% to 17,000 won. Lee Dongheon, a researcher at Shinhan Investment & Securities, also raised his target price from 8,800 won to 16,000 won, saying, "In the second half of the year, we expect the company to enter a growth phase due to expanding mining demand, interest rate cuts, and finalized tariffs."

Previously, HD Hyundai Infracore announced the previous day that its second-quarter sales reached 1.1846 trillion won, up 7% year-on-year, and operating profit climbed 30% to 105.8 billion won. This marks the first time in seven quarters that sales have returned to growth.

Meanwhile, HD Hyundai Construction Equipment is scheduled to hold a shareholders' meeting on September 16 to approve the merger resolution with HD Hyundai Infracore. Shareholders opposing the merger must submit their objections in writing between August 29 and the start of the extraordinary shareholders' meeting on September 16, and exercise their appraisal rights between September 16 and October 10.

$[Market Focus] HD Hyundai Infracore Hits Record High as Brokerages Raise Target Prices$