DAISHIN SECURITIES emphasized on the 1st that Hanwha Aerospace is the most easily purchasable stock among defense stocks in terms of valuation. They maintained the investment opinion of 'buy' and raised the target price to 1.2 million won, an increase of 22.4% from the previous estimate. The previous trading day, Hanwha Aerospace closed at 996,000 won.
According to DAISHIN SECURITIES, Hanwha Aerospace recorded a consolidated sales figure of 6.3 trillion won in the second quarter of this year, a 125.1% increase from the same period last year, and an operating profit of 864.4 billion won, up 140.9%. The preliminary figures significantly exceeded market estimates.
Lee Tae-hwan, a researcher at DAISHIN SECURITIES, noted that it is a 'genuine solid performance' based on productivity improvement, cost reduction, and an increased share of high-margin LNG (liquefied natural gas), asserting that it is the basis for raising profit expectations.
Additionally, there were projections that the criticized decision-making method and concerns about the financing method regarding the capital increase through issuance may actually act as a favorable factor.
The researcher added that 'by securing 4.2 trillion won in funding during this capital increase process, which significantly exceeded existing targets, they ensured timely investment capacity and clearly communicated the necessity of planned investments to the market, thus making the basis for buying clearer.' He further stated that it is a stock that will realize another upward trend.