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Heungkuk Securities Raises Price Target for HD Hyundai on Strong Subsidiary Performance
Producer Manufacturing · Industrial Conglomerates · yonhap_finance · 2026-09-08
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Heungkuk Securities upgrades HD Hyundai's price target to 330,000 KRW, citing strong earnings momentum across its shipbuilding and machinery subsidiaries.
What Happened
Q3 Earnings Expectations: Heungkuk Securities forecasts HD Hyundai's Q3 consolidated revenue and operating profit at 20.9 trillion KRW and 3.2 trillion KRW, respectively. These figures represent year-on-year increases of 14.8% and 88.6%, driven by broad-based growth across subsidiaries.
Subsidiary Value: Key subsidiaries, including HD Korea Shipbuilding & Offshore Engineering and HD Hyundai Oilbank, along with power equipment and construction machinery units, are delivering solid results. This collective performance is significantly enhancing the parent company's valuation.
Annual Outlook: The company is expected to see substantial annual growth, with revenue and operating profit projected to reach 86.1 trillion KRW and 13.8 trillion KRW. A diversified business portfolio and rising global demand continue to support strong earnings momentum.
Price Target Upgrade: Reflecting the robust performance, Heungkuk Securities has raised its price target for HD Hyundai from 300,000 KRW to 330,000 KRW. The firm maintains a 'Buy' rating, signaling continued confidence in the company's outlook.