Shares of KOSPI-listed IS Dongseo are strong early on the 17th. Buying is seen as coming in on securities analysts' views that next year's earnings will rebound.
As of 9:24 a.m. that day, IS Dongseo is trading at 25,400 won, up 3,500 won (15.98%) from the previous session. This is the highest price in a year.
Shinyoung Securities said IS Dongseo's earnings will recover next year, putting the stock into a re-rating phase. It sharply raised its target price to 50,000 won from 26,000 won.
Researcher Park Sera at Shinyoung Securities said, "Starting with the successful launch of sales for 'Ulsan Lake Park Aileen's Garden' in November this year, the company has entered a full-scale period of concentrated sales and is seeking a rebound." Shinyoung Securities assessed that business divisions across IS Dongseo are showing signs of recovery.
Park went on to say, "Next year, roughly 500 billion won in revenue based on delivery will be recognized in the first half, divided up, from move-ins at Blocks 6 and 7 in Deogeun District," and added, "In-house business alone will post 500 billion won in revenue thanks to progress at new sales business sites in Ulsan and additional revenue from selling remaining unsold units."