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April 26, 2018

[EQUITIES] ‘POSCO Daewoo enjoys upbeat market’

PUBLISHED : January 11, 2018 - 11:28

UPDATED : January 11, 2018 - 11:28

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[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 (glamazon@heraldcorp.com)

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