Shinhan Investment & Securities analyzed on the 10th that VITZRO CELL's high-temperature battery sales will continue to grow this year. It maintained a "Buy" rating and set a target price of 25,500 won. The previous trading day's closing price of VITZRO CELL was 20,050 won.
VITZRO CELL, a lithium battery manufacturer, produces high-temperature batteries and military reserve batteries.
Last year's revenue rose 15% from a year earlier to 242.7 billion won, and operating profit came in at 68.9 billion won. In particular, high-temperature batteries drove overall results growth last year.
Lee Byunghwa, an analyst at Shinhan Investment & Securities, said, "Sales of high-temperature batteries grew 42.3% year over year," and noted "rising market share centered on North America and the merger effect with Innova, a specialist in high-temperature battery packs."
This year's results are also expected to continue growing. The analyst said, "We forecast EMPL and thermal battery sales to rise 28% year over year to 47.6 billion won, and high-temperature batteries to increase 48% to 68.4 billion won," and added, "Given the Middle East situation, we also note the potential for upward revisions to earnings estimates in the defense and energy sectors."