The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed. DRAM prices in 4Q21 to be stronger than expected We maintain BUY and TP of KRW100,000 on SEC. We remain optimistic about the company because DRAM prices and shipment negotiations have progressed without any maj
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. On Nov 29, SKT and SK Square are to resume trading after completion of the spin-off process. With the differentiated strengths of each company set to shine, respective EV appreciation is anticipa
Samsung Electronics and SK Hynix ramped up their market shares in the NAND flash market in the third quarter of 2021.Samsung Electronics’ NAND flash sales in the third quarter of 2021 rose 16.5 percent from last quarter to reach US$6.51 billion. Sales growth was driven by increased demand from the s
To celebrate the global shopping festival “Black Friday,” Coupang will hold a special event to offer global products and brands with the biggest benefits of the year until Nov. 28.This year’s special event for Black Friday will be held for Coupang’s Rocket Jikgu and directly imported Rocket Delivery
The Credit Finance Association has completed the development of the Korea Local Smart Card (KLSC) as a new IC card standard and notified nine credit card companies of the fact. The association and the companies agreed early last year to develop the standard, and beta tests were conducted at Samsung
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed. Maintain BUY, target price of KRW18,000 We maintain BUY and TP of KRW18,000 on Hanon Systems. For 2022, we expect the company to see OP surge 58.0% YoY, as the semiconductor shortage should ease, boosting
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed. Maintain HOLD, target price of KRW46,000 We maintain HOLD and TP of KRW46,000 on Hankook T&T. We expect OP to grow 2.6% YoY in 2022 as replacement tire demand fuels market recovery. Derived using the DCF m
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed. Maintain BUY, lower target price by 15.4% to KRW220,000 We lower our TP for Hyundai Glovis by 15.4% to KRW220,000, reflecting a 0.4pp rise in WACC in line with higher interest rates. In addition, OP is for
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed. Maintain HOLD, raise target price 9.1% to KRW60,000 Despite raising our TP by 9.1% to KRW60,000, we maintain HOLD on Mando. Our revised TP reflects upward revisions to 2021E/2022E OP of 7.4%/6.6% based on
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed. Maintain BUY, cut target price 5% to KRW285,000 We maintain BUY on HMC but cut our TP by 5% to KRW285,000. For 2022, we see OP growing 10.5% YoY as production and unit sales rebound. However, we revise dow
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed. Maintain BUY, lower target price 8.3% to KRW110,000 We maintain BUY for Kia Corp. but lower our TP by 8.3% to KRW110,000. We expect OP to rise 4.9% YoY in 2022 on recoveries in production/sales. However, w
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed. We maintain BUY, target price of KRW330,000 We maintain BUY and TP of KRW330,000 on Hyundai Mobis. We expect 2022 OP to soar 30.9% YoY on improving Module & Core Parts profitability as Hyundai Motor Group
Despite the news reports about Samsung Display's mass production of QD OLED panels, LG Display's stock price has not dropped. LG Display closed at 22,250 won on Nov. 24, up 1.14 percent.Samsung Display is planning to mass-produce QD OLED panels beginning from Nov. 30. They will be Samsung
Hanwha Solutions announced on Nov. 24 that it has signed a contract to invest US$100 million in Lancium Technologies in Houston, Texas. Through this investment, Hanwha Solutions will secure a seat on the board of directors of the U.S. startup, which specializes in data center power management.Lanciu
The Monetary Policy Board of the Bank of Korea raised the base rate by 25 basis points, from 0.75 percent to 1.00 percent on Nov. 25.The bank's action came three months after it raised the base rate from 0.5 percent to 0.75 percent in August. It had kept the base rate at 0.5 percent per annum fo
The author is an analyst of KB Securities. He can be reached at newday@kbfg.com. -- Ed. Resume coverage with HOLD, target price of KRW5,300 We resume coverage of SHI with a HOLD rating and TP of KRW5,300 (12m fwd BVPS x 1.16x target P/B); our coverage was suspended when KB Securities became lead und
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. HDC HDC is forecast to display continued sales expansion in 2022 from both outsourced and in-house projects. Depending on whether its in-house development projects (near subway stations) are able
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Any negative impacts from supply-demand issues for construction materials should be limited at GS E&C thanks to the firm’s new businesses. We maintain the company as our second-preferred pick. Th
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Although uncertainties are high towards the 2022 housing market, DL E&C should remain attractive in light of strong valuation merit, a wider (versus rivals) self-development project portion, and
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. In line with global efforts towards carbon-neutrality, the domestic offshore wind market is set to bloom in the near future. We expect Hyundai E&C to become a major beneficiary of the domestic of