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Hanwha Securities Raises Daewoo E&C Price Target on Strong Order Outlook
Industrial Services · Engineering & Construction · yonhap_finance · 2026-08-25
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Hanwha Securities has significantly raised its price target for Daewoo E&C, citing an ambitious increase in order guidance and positive overseas project prospects.
What Happened
Price Target Hike: Hanwha Securities has raised its price target for Daewoo E&C from 7,300 KRW to 22,000 KRW, maintaining a 'Buy' rating. The upgrade is driven by improvements in the housing market and robust growth in new overseas orders.
Order Guidance: Daewoo E&C has significantly increased its annual order guidance from 18 trillion KRW to 27 trillion KRW. This upward revision is supported by major projects, including the Czech nuclear power plant and LNG facilities in Papua New Guinea.
Overseas Prospects: Major international projects are expected to help restore the company's order backlog, which had been declining since 2021. While immediate revenue impact may be gradual, the long-term outlook for order stability is viewed positively.
Data Center Growth: Kiwoom Securities noted that Daewoo E&C is expanding its business scope by establishing a dedicated task force for data centers. The company is expected to benefit from the growing demand for AI infrastructure in the domestic market.
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