On the 5th, researcher Yang Seung-su of Meritz Securities said that Daeduck Electronics posted 24.4 billion won in operating profit in the third quarter of this year, delivering stronger-than-expected earnings growth across memory, non-memory, and multilayer printed circuit boards (MLB).
That day, the researcher raised Daeduck Electronics' investment rating to "buy" and lifted the fair price to 60,000 won from the previous 34,000 won. This is 52.3% higher than the previous day's closing price of 39,400 won.
In the third quarter of this year, Daeduck Electronics sharply narrowed losses in the non-memory segment, not only in automotive electronics but also on the back of expanded key applications such as semiconductor-based solid-state drive (SSD) controllers and buffer chips for data centers.
Researcher Yang found that for some bismaleimide triazine (BT) substrates, price hikes succeeded amid tight supply and demand due to rising raw material prices and shortages.
In the memory segment, demand for random access memory (RAM) such as DDR5, GDDR7, and LPDDR—used mainly in computing environments like desktops, servers, and data centers—drove the earnings improvement. The MLB segment also contributed to the overall favorable earnings trend by logging sales growth geared to artificial intelligence (AI) accelerators and networks.
Yang said, "With the plant utilization rate reaching about 90%, the room for additional near-term upside appears limited, but we expect sufficient room for utilization to rise again through line conversion effects." He presented an estimate for Daeduck Electronics' 2026 operating profit at 152.5 billion won, up 44.4%.
He added, "Because a steep upward revision to earnings estimates is expected in the short term, we judged that the stock will enter an additional rally phase."