IBK Investment Securities analyzed on the 11th that the entry of Micro Digital into the Indian market is expected. Accordingly, IBK Investment Securities maintained a 'buy' investment opinion on Micro Digital and a target price of 27,000 won. Micro Digital finished trading the previous day at 11,230 won, with a potential for growth of 140%.
According to IBK Investment Securities, Micro Digital announced on the 10th that it had signed a single sales supply contract with 'Serum Institute of India' (SII), the world's largest vaccine manufacturer, through the Indian bio-materials and components company 'Accumax Lab Devices' after the market closed on the previous day.
Lee Geon-jae, a research analyst at IBK Investment Securities, said, 'It seems that SII officials made a quick decision after the on-site inspection of the Micro Digital factory in Seongnam last August,' adding, 'Considering that past overseas supply contracts took at least 18 months to establish, this is meaningful.'
The research analyst identified high technological independence and corporate credibility as factors for the swift contract signing. Micro Digital has developed its own disposable cell culture system 'Celbic', which alleviates concerns over patent disputes, and has secured certified field test results during the supply contract process with North American corporations, providing an advantage in negotiations.
The research analyst also viewed the anticipated exclusion of China from the global bio industry positively for Micro Digital. He noted, 'In the market trend of reducing reliance on China, the Chinese bio industry is quickly catching up to the United States,' and added, 'Since Micro Digital has already succeeded in entering the U.S. market, significant progress is expected even after the inauguration of Trump.'