HD Korea Shipbuilding Set to Gain From Subsidiaries' Strong Earnings -- Market Talk

Dow Jones
2024-11-12

0343 GMT - HD Korea Shipbuilding & Offshore Engineering is set to gain from stronger-than-expected earnings improvements at its subsidiaries, Daiwa Capital analysts Mike Oh and Daeho Son say. They raise their EPS forecast for the South Korean intermediate holding company of three shipbuilders--HD Hyundai Samho, HD Hyundai Heavy Industries and HD Hyundai Mipo--by 76% for 2024, 64% for 2025 and 54% for 2026. They expect the holding firm's dividend yield to rise to 4.3% in 2025 from 2.3% in 2024. Daiwa upgrades its rating on HD Korea Shipbuilding to buy from outperform and raises its target by 60% to 240,000 won. Shares are 1.1% lower at 191,700 won. (kwanwoo.jun@wsj.com)

 

(END) Dow Jones Newswires

November 11, 2024 22:44 ET (03:44 GMT)

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