[Click e-Stock] "CS Bearing, Lowered Expectations...Unexpectedly Strong Results"

On March 11, DS Investment & Securities maintained its target price for CS Bearing at 9,900 won, reflecting unexpectedly strong results. The investment opinion was "Buy."

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Juwon An, an analyst at DS Investment & Securities, stated in a report released that day, "Over the next five years, the annual average onshore wind power market in the United States and Europe is expected to remain at around 9GW and 16GW, respectively," adding, "While there may not be significant growth, it will serve as a power generation source that can respond to the overall increase in electricity demand."

CS Bearing's performance for this year is estimated at sales of 144.4 billion won and operating profit of 18.1 billion won. The background for this growth is attributed to CS Bearing's rising market share amid solid demand in the onshore wind power sector in the United States and Europe.

Analyst An commented, "As the size of onshore wind turbines increases, unit prices are rising, and due to price and political risks, European- and Chinese-made supply chains are continuing to lose market share. Ultimately, domestic companies are expected to fill this gap, providing a foundation for growth."

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