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POSCO FutureM |
[Alpha Biz= Reporter Kim Sangjin] Securities firms have collectively lowered their target prices for POSCO Future M following an earnings shock.
On the 26th, Hana Securities revised its target price for POSCO Future M from 400,000 KRW to 273,000 KRW. Similarly, NH Investment & Securities (from 360,000 KRW to 290,000 KRW), Kiwoom Securities (from 340,000 KRW to 300,000 KRW), Samsung Securities (from 270,000 KRW to 240,000 KRW), and Shin Young Securities (from 380,000 KRW to 300,000 KRW) also lowered their target prices for the company.
The adjustments were driven by POSCO Future M's second-quarter performance, which fell short of market expectations. The company reported an operating profit of 2.7 billion KRW on a consolidated basis, down 94.8% year-on-year. Revenue decreased by 23.3% to 915.5 billion KRW, and the net loss was 11.2 billion KRW, marking a swing to a loss.
Despite the disappointing quarterly results, some analysts believe that the poor performance was due to one-time costs and that profitability may improve in the next quarter. Kim Hyun-su, a researcher at Hana Securities, explained, "The loss in synthetic graphite evaluation that occurred in the second quarter is not expected to recur in the third quarter, which should lead to improved profitability."
Meanwhile, POSCO Future M's stock price closed at 209,000 KRW, down 7.52% (17,000 KRW) from the previous trading day (226,000 KRW). Just before market close, the stock touched 208,500 KRW, hitting a 52-week low.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
