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Hanwha Systems |
[Alpha Biz= Reporter Kim Minyoung] Hana Securities raised its target price to 25,000 won from 24,000 won on the 5th, saying that the favorable outlook for orders for Hanwha Systems will lead to earnings growth. The investment opinion remained 'buy'.
"With the growth of the domestic defense industry, Hanwha System's order balance is reaching three years' worth of work," Hana Securities said. "At a time when the global share of the domestic defense industry is approaching 3%, prospects for future orders are also favorable."
"It also announced its decision to acquire a 100% stake in HS USA Holdings last month and formalized a plan to acquire a 60% stake in the U.S. Philly shipyard," Hana Securities said. "In the long term, the purpose of the plan is to advance the defense business by entering the ship business."
"In the long run, we have secured additional earnings growth momentum," Hana Securities said. "Considering the period during which the increased order balance is recognized as performance, the performance is expected to grow in 2026."
Hanwha System's sales rose 14.4% year-on-year to 698.3 billion won and operating profit rose 58.0% to 47.2 billion won this year.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
