Hana Securities on the 17th said SK's substantial net asset value (NAV) surged as the equity value of its listed subsidiaries increased.
At the same time, it maintained its previous investment opinion of "Buy" and set the target price at 290,000 won, up 28.9% from before. Based on the previous trading day, SK's closing price was 258,000 won.
In the third quarter of this year, SK posted revenue of 31.040414 trillion won and operating profit of 827.4 billion won. Revenue rose 3.3% from a year earlier, and operating profit increased 72% from a year earlier.
Choi Jeong-uk, an analyst at Hana Securities, said, "With SK hynix's share price surging, SK Square's equity value jumped sharply, and SK Innovation, SK Biopharm, and SKC also saw their equity values grow, leading to a large increase in NAV."
Choi said, "SK Group's rebalancing (rebalancing of investment assets and weights) is actively under way," adding, "The sale of management control of SK Siltron is expected to slow the pace."
He added, "The likelihood has increased that the third amendment to the Commercial Act, which includes mandatory treasury share cancellation, will be handled within the year," and "With SK holding a high 24.8% in treasury shares, the legislation could serve as a momentum factor if it becomes law."