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[Alpha Biz=(Chicago) Reporter Kim Jisun] POSCO International's stock price soared, quickly approaching the upward target stock price of the stock market. The target price offered by Samsung Securities has already exceeded.
On the 25th, POSCO International on the Korea Exchange closed at 74,400 won, up 12.73% from the previous day.
On the same day, securities firms raised the target stock price of POSCO International, which recorded a record high of KRW 357.2 billion in operating profit in the second quarter, up 11.5% from the same period last year.
Hana Securities raised its target price of POSCO International to 76,000 won from 54,000 won.
NH Investment & Securities (45,000 won → 77,000 won), Eugene Investment & Securities (57,000 won → 79,000 won), and Samsung Securities (41,000 won → 73,000 won) also raised their target prices.
However, it has been pointed out that POSCO International's recent surge in stock prices and overvaluation need to be wary.
Kiwoom Securities raised its target price from KRW 40,000 to KRW 76,000, but lowered its investment opinion by one notch from the previous "buy" (expected to rise by more than 20%) to "outperform" (expected to rise by 10∼20%).
Kiwoom Securities said, "We adjusted our investment opinion considering the fact that the stock price has soared nearly three times since the announcement of the mid- to long-term vision in April, which has increased the short-term valuation burden.”
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
