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(Photo=DL E&C) |
[Alpha Biz= Reporter Kim Minyoung] Daishin Securities analyzed on the 28th that DL E&C's second-quarter performance this year is expected to fall short of expectations. However, they maintained a 'Buy' rating and a target price of 50,000 won.
Daishin Securities stated, "We expect consolidated sales for the second quarter of this year to be 2.11 trillion won, a 6.9% increase year-on-year, and operating profit to be 66.8 billion won, a 7.1% decrease year-on-year." They noted, "On a standalone basis, housing sales are slowing due to sluggish construction starts, and the plant sector's orders in the first half of the year have fallen short of the target."
Daishin Securities observed, "The annual target of starting 17,000 housing units has been progressing smoothly," and "considering that the plant sector has set a plan exceeding 2 trillion won for the second half of the year, additional order acquisition is necessary."
They also highlighted, "The level of project financing (PF) risk is lower compared to competitors, and there is optimism about the pace of improvement in housing cost ratios." They acknowledged, "It is true that difficulties in improving cost ratios and securing additional orders for plants have persisted until the first half of this year, limiting upward momentum for the stock price. However, the recovery outlook is clear, and the valuation attractiveness remains high."
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
