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K9 Self-Propelled Howitzer (Photo Courtesy of Hanwha Aerospace) |
[Alpha Biz= Kim Sangjin] Hana Securities predicts that Hanwha Aerospace will maintain its momentum in exporting weapon systems, not only to Poland but also to Southeast Asia and India.
The firm reiterated its "Buy" rating on Hanwha Aerospace and raised the target price from 440,000 KRW to 560,000 KRW, the highest among domestic securities firms. This represents a 41.7% increase compared to the previous day’s closing price of 395,000 KRW.
Hana Securities assessed the performance of Hanwha Aerospace’s ground defense sector as solid. It estimated that even with conservative projections for deliveries to Poland and India last year, the company likely exceeded initial expectations with shipments of 65 K9 self-propelled howitzers and 48 Chunmoo multiple rocket launchers.
The firm added, “Beyond the current export volume to Poland driving performance, numerous other weapon systems are expected to contribute to future growth. The likelihood of a decline in order volumes is limited.”
Hana Securities also noted, “Additional orders are possible as part of Poland's efforts to establish local production facilities. Interest in the Southeast Asian region has been increasing recently. Demand for weapon systems is expected to grow in Asia, including India, which previously signed contracts for the K9 self-propelled howitzer.”
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
