(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Sangjin] On the 24th, KB Securities highlighted Doosan Bobcat's new growth momentum and raised its target price from 60,000 KRW to 67,500 KRW while maintaining a 'Buy' rating.

KB Securities stated, "Doosan Bobcat signed a business agreement with HD Hyundai InfraCore the previous day to expand mutual supply of construction equipment in the North American market." They further mentioned, "This agreement was pursued with the common long-term goal of expanding brand influence within advanced markets."

Continuing, KB Securities projected, "For the second quarter, Doosan Bobcat is expected to achieve sales of 2.5928 trillion KRW, a 3% decrease year-on-year, and operating profit of 354.4 billion KRW, a 24% decrease year-on-year. Despite sluggishness in European and Asian markets, sales in the key North American market remain robust, and the situation in the South American market is also favorable."

KB Securities also commented, "In the future, Bobcat's small equipment will be supplied to HD Hyundai InfraCore, and InfraCore's medium-sized equipment will be sold through Bobcat's distribution network with the Bobcat logo attached. If mutual supply is established, it is expected to contribute to revenue and profit growth through expansion of product lineup and distribution channels."

 

 

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