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LIGNEX1 office building (photo = LIGNEX1) |
[Alpha Biz=(Chicago) Reporter Paul Lee] NH Investment & Securities predicted that Saudi Arabia is expected to place additional orders for LIG Nex1's Cheongung 2 following last year. As a result, the target price was raised from 150,000 won to 190,000 won, and the investment opinion remained 'buy'. The previous trading day, LIG Nex1 closed at 163,300 won.
"The introduction of the latest patriot missile (PAC-3 MSE) for Saudi Arabia's low-performing Houthi rebel ballistic missile defense is politically burdensome considering economic factors and changes in diplomatic relations," NH Investment & Securities said. "On the other hand, Cheongung 2 is a U.S. alliance that is less likely to have a political clash with Saudi Arabia and has excellent price competitiveness compared to performance."
NH Investment & Securities predicted that Saudi Arabia's order for Cheongung 2 will increase in the future, considering the area of the country. NH Investment & Securities said, "We have ordered 10 bags ($ 3.3 billion), but we expect to order more than 10 additional bags in the future."
Alphabiz Reporter Kim SangJin(hoondork1977@alphabiz.co.kr)
