Doosan

On August 22, Daishin Securities maintained its buy status and the target price of 193,000 KRW for Doosan shares, announcing that the company’s electro-materials is expected to show improvements in performance in the second half of the year, when new smartphones are scheduled to hit the market.

“The slowdown in the performance of Doosan Corporation Electro-Materials in the second quarter of the year is mainly attributable to the postponed launch of major new smartphones to the second half,” said Kim Yong-shik, an analyst at the securities firm. “The direction is right. Even bigger improvements are anticipated in the 4th quarter than in the 3rd in terms of corporate performance.”

“Given that its profitability will improve in line with increased sales in the 3rd quarter, Doosan is expected to achieve qualitative improvements in its operating profits during the same period,” added the analyst. He also predicted that the company’s turnover and operating profits would reach 187.6 billion KRW and 19.7 billion KRW, respectively, in the third quarter, marking increases of 10% and 37.7% over the previous quarter.

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Source: The Korea Economic Daily