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| 코오롱인더스트리 본사 전경.(사진=코오롱인더스트리) |
[Alpha Biz=(Chicago) Reporter Paul Lee] Daishin Securities evaluated Kolon Industries as "the key is to recover profitability." The target price fell 8.1% to 57,000 won, and the investment opinion remained 'buy'.
"The 2024 operating profit estimate in the industrial materials sector has been raised by 12.7% year-on-year due to the recovery of demand for tire cords and the expansion of Aramid, but it has also lowered its target share price by lowering profit estimates in the chemical and film sectors," Daishin Securities said.
"Kolon Industries's operating profit was KRW 40.9 billion in the fourth quarter of last year, 22% below market expectations," Daishin Securities said. "The recovery in demand for tire codes in the industrial materials sector is positive, but the overall profit improvement of industrial materials is limited due to falling profits from falling Aramid selling prices."
Daishin Securities predicted Kolon Industries' expected operating profit for this year to be 198 billion won, up 25.6 percent from a year earlier.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
