NH Investment Cuts Korean Shipbuilder Target Prices on July 10, Downgrades HD Hyundai by 17%

According to NH Investment & Securities report on July 10, the firm downgraded target prices for South Korea's three major shipbuilders following Canada's submarine project award to Germany's Thyssenkrupp Marine Systems. HD Hyundai Heavy Industries' target price was cut 17% to 830,000 won, while Samsung Heavy Industries and Hanwha Ocean saw adjustments to 34,000 won and 126,000 won respectively. The analyst cited weakened mid-to-long-term specialty ship revenue expectations and underwhelming LNG tanker price gains. LNG carrier prices remained flat at $248.5 million per vessel as of recent weeks, according to Clarkson data. NH Investment maintained 'Buy' ratings on all three, noting recent valuation compression offers potential upside if offshore plant and medium-speed engine orders materialize in the second half.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments