[Click e-Stock] "Duksan Neolux Set for Full-Fledged Earnings Leap...Target Price Maintained"

by Kim Daehyun

Published 04 Feb.2026 08:21(KST)

IBK Investment & Securities stated on the 4th that it is maintaining its "Buy" investment recommendation and target price of 57,000 won for Duksan Neolux, saying that "this year the company will make a full-fledged leap in earnings."

On this day, Kang Mingu, a researcher at IBK Investment & Securities, said, "The company is beginning to visibly benefit from the expansion of OLED (organic light-emitting diode) applications and the advancement of related technologies."

He estimated that Duksan Neolux's standalone revenue for the fourth quarter of last year will reach 68.5 billion won, up 31.2% year-on-year, marking a record-high quarterly figure. However, he expected operating profit to come in at 19.7 billion won, which would represent growth of only 0.9% compared with a year earlier and fall short of market expectations.

[Click e-Stock] "Duksan Neolux Set for Full-Fledged Earnings Leap...Target Price Maintained"

Kang explained, "The reason operating profit falls short of the market consensus is that one-off expenses such as performance bonuses were reflected," and analyzed that "this is merely the result of non-recurring costs, while the structural benefits from rising OLED penetration in IT (information technology) devices are continuing."

He projected this year's consolidated revenue at 432.1 billion won and operating profit at 99.4 billion won, increases of 25.7% and 54.7%, respectively, compared with the previous year. As the basis for this strong earnings outlook, Kang said, "high-margin specialty material Black PDL (pixel defining layer) is steadily expanding its applications, and domestic panel makers have begun operating their 8.6-generation production lines for IT OLEDs."

He added, "Domestic panel makers are maintaining solid market share with major North American customers, and the improvement in business conditions at subsidiary Hyundai Heavy Industries Turbomachinery, along with the recognition of high-margin orders, will also support earnings growth."