0057 GMT - HD Hyundai Heavy Industries may get a valuation boost from its maintenance, repair and overhaul business for the U.S. Navy this year, Daiwa Capital analysts Mike Oh and Daeho Son say. The South Korean shipbuilder aims to win two to three MRO orders from the U.S. Navy in 2025 and also expresses its interest in building a strategic commercial fleet for the U.S., they note. Daiwa expects the company to secure $13.03 billion of new contracts for this year, above its annual guidance of $12.6 billion. Daiwa raises its target price for the stock by 62% to KRW380,000 and keeps a buy rating. Shares are 0.5% lower at KRW308,500. (kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
January 19, 2025 19:57 ET (00:57 GMT)
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