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[Alpha Biz=(Chicago) Reporter Paul Lee] NH Investment & Securities decided on the 20th that CS Wind is expected to increase orders due to the recovery of land and offshore wind demand this year. The target stock price was 88,000 won, and investment opinion was maintained 'buy'.
NH Investment & Securities assessed CS Wind's profitability as good. "CS Wind has reversed the construction loss provision of 'Bladt', a Danish offshore wind power infrastructure company that we recently acquired," he said. "The valuation of comparable companies has also risen slightly due to increased global land wind power orders and improved demand for offshore wind power projects."
CS Wind's sales in the fourth quarter of last year were 402.1 billion won and operating profit was 34.4 billion won, below the consensus in terms of operating profit. This is attributed to the delay in sales in the tower sector and the distribution of some of the high-tech manufacturing production tax credit (AMPC) subsidies to customers.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
