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November 13, 2018

[EQUITIES] ‘Expectations rise for KAI’

PUBLISHED : June 11, 2018 - 12:06

UPDATED : June 11, 2018 - 12:12

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[THE INVESTOR] Korea Aerospace Industries will gain as expectations rise for strong second-quarter earnings and possibility of winning orders from US Air Force, said Shinhan Investment on June 11, raising the target price to 60,000 won (US$55.93) from 55,000 won.




Its revenue in the second quarter will double from the same period last year to 845 billion won and operating profit will turn to black at 55 billion won, beating market expectations. Yearly revenue will hike 38.3 percent to 2.9 trillion won and operating profit will come in at 233.4 billion won, said analyst Hwang Eo-yeon

Propelled by increase in its flagship helicopter Surion shipment amount and recovering KF-X business, sales in the defense sector will surge 62.7 percent to 1.3 trillion won. Major orders it is likely to win include US$300 million advanced trainer jets from US Air Force, Korean army’s 500 billion won reconnaissance satellite project and 200 billion won medevac helicopter project. Although it is hard to tell yet who might win the APT order, KAI’s price-earnings ratio needs to be discounted considering the possibility. 

By Hwang You-mee (glamazon@heraldcorp.com)

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