[Edaily Reporter Kwon Oh Seok ] HEUNGKUK METALTECH CO.,LTD. announced on the 9th that it is maintaining its “Buy” rating on HD HYUNDAI(267250)and raising its target price from 300,000 won to 330,000 won.

Park Jong-ryeol, an analyst at HEUNGKUK METALTECH CO.,LTD., explained, “We are raising the target price to reflect the continued strong earnings momentum across all subsidiaries—including shipbuilding, refining and chemicals, power equipment, construction machinery, and ship services—as well as the rising value of these subsidiaries.”
The firm projected that third-quarter consolidated revenue would reach 20.9 trillion won (+14.8% year-over-year) and operating profit 3.2 trillion won (+88.6%), continuing the strong operating performance seen in the previous quarter. Analyst Park predicted, “While HD KOREA SHIPBUILDING & OFFSHORE ENGINEERING and HD HYUNDAI OILBANK will lead the growth in consolidated operating profit, most subsidiaries—including power equipment, construction machinery, and ship services—are expected to post solid results.”
The firm decided to maintain its previous forecast for 2026, projecting consolidated annual revenue of 86.1 trillion won (+20.8%) and operating profit of 13.8 trillion won (+125.9%). He predicted, “Strong earnings momentum will be sustained due to expanding global demand, supported by the diversified business portfolios of subsidiaries in shipbuilding, power equipment, construction machinery, and ship services.”
Analyst Park stated, “Taking into account earnings momentum, shareholder returns, and corporate governance, we apply a discount rate of 45.0% relative to NAV (net asset value). “Despite the recent stock price rebound, the discount to NAV stands at 58.0%, and the forward 12-month P/E (price-to-earnings ratio) and P/B (price-to-book ratio) are 5.9x and 1.4x, respectively, indicating the stock remains undervalued,” he added. “It is now time to more actively implement measures to expand shareholder returns, such as the cancellation of treasury shares.”