In early trading on the 11th, Doosan shares are up more than 12%. It is seen as a result of brokerages collectively raising their target prices after the company announced its third-quarter results this year.
As of 9:34 a.m. that day, Doosan was trading on the Korea Exchange at 1,055,000 won, up 116,000 won (12.35%) from the previous session.
Doosan shares rose intraday to as high as 1,082,000 won, hitting a 1-year high.
After the close of regular trading the previous day, Doosan disclosed that its third-quarter operating profit this year was tentatively tallied at 108.7 billion won. That was a surge of 211% from a year earlier. Revenue was 524.1 billion won, up 60% over the same period.
After the third-quarter results were announced, brokerages raised their target prices, forecasting record results in the fourth quarter.
Lee Ju-hyeong of EUGENE INVESTMENT & SECURITIES said that "fourth-quarter results are expected to mark the biggest quarterly results since the company's founding, with revenue of 549.9 billion won and operating profit of 165.2 billion won," and set a target price of 1.37 million won, a 37% increase. Kiwoom Securities also set a target price of 1.2 million won, raising it 41.18% from before.