BNK Investment Securities projected on the 16th that as the global smartphone supply chain inventory adjustments are nearing completion, Duksan Neolux's performance will improve. Accordingly, it maintained its investment recommendation of 'buy' and raised the target price by 44.9% to 40,000 won. The closing price on the previous trading day was 27,600 won.
Research Institute Lee Min-hee of BNK Investment Securities noted that while there has been a global smartphone supply chain inventory adjustment this year, it has entered a completion phase. The researcher said, "By early next year, North American smartphone clients will finalize their supply chains ahead of the 2026 new model launch," adding, "The new model will incorporate materials from Duksan Neolux, leading to increases in both sales volume and average selling price (ASP)."
The researcher projected that there will be positive developments from China in terms of customer diversification. He stated, "Material supply to the largest Chinese display client, which had poor delivery performance, will increase starting in the second quarter of next year," and added, "The black Pixel Define Layer (PDL) products will expand beyond foldable products to include standard models, contributing to revenue."
Meanwhile, the researcher noted that the performance forecast for Hyundai Heavy Industries' turbomachinery, which Duksan Neolux recently acquired, has not yet been reflected. He mentioned, "We will reconsider the target price when the performance of Hyundai Heavy Industries' turbomachinery is consolidated."