[EQUITIES] ‘POSCO Daewoo enjoys upbeat market’
[THE INVESTOR] The prospects for POSCO Daewoo are quite good, said Samsung Securities on Jan. 11, raising the target price to 26,000 won (US$24.31) from 24,000 won.
Its gas field in Miyanmar has struggled with unreliable supply and will offer a low baseline, while recent rise in oil price may serve as a momentum, said analyst Baek Jae-seung.
Based on the booming steel industry, its trading sector will remain solid and having reflected depreciation costs in the fourth quarter last year, investors can easily approach the firm with a short-term trading view, said the analyst.
Its revenue from the fourth quarter last year fell 4.5 percent on-year to 5.7 trillion won and operating profit by 21.6 percent to 76.9 billion won, estimated Baek.
By Hwang You-mee (firstname.lastname@example.org)