Yuanta Securities Korea on the 9th said Daeduck Electronics is responding to production capacity constraints by focusing on high‑margin products, and that the effect of higher selling prices will begin in earnest from the second quarter. It maintained its "buy" (BUY) rating and raised its target price 17.6% to 200,000 won from 170,000 won. The previous session's closing price was 139,700 won.
Yuanta Securities Korea assessed that each business unit of Daeduck Electronics has its own independent growth driver.
Ko Sun-young, an analyst at Yuanta Securities Korea, said, "For memory, production efficiency efforts such as line changes are expected to expand capacity from the third quarter of this year," and noted, "Through last month's disclosure of new plant expansion, the company laid the groundwork for initial investment, and additional equipment investment disclosures are also possible."
Ko projected that for FC-BGA, as supply of large-area substrates for networks becomes visible in the third quarter of this year and supply for Physical AI in the fourth quarter, application expansion and larger form factors will proceed simultaneously.
Ko analyzed, "With the top-tier companies' capacity fully utilized, Daeduck Electronics' idle capacity can be grounds for securing new customers." For multilayer boards (MLB), capacity expansion is underway, and given the expected increase in additional volumes for aerospace and AI accelerators, the decision on further MLB expansion is likely to be brought forward.
Ko said, "With the effects of capacity additions at the three business units accumulating sequentially, the company's profit growth trajectory will become clearer into next year."