[Alpha Biz=(Chicago) Reporter Paul Lee] Hana Securities predicted on the 5th that HD Hyundai Electric will continue to change its biggest management performance. Hana Securities maintained its investment opinion on HD Hyundai Electric 'buy' and raised its target stock price by 40% from 100,000 won to 140,000 won.

"HD Hyundai Electric has set a target of KRW 3.3 trillion in sales and $3.74 billion in new orders this year," Hana Securities said. "We expect to see steep profit growth this year, up more than before."

HD Hyundai Electric continued to grow in all sectors based on its fourth-quarter earnings last year. In the power equipment sector, demand for transformers and high-pressure circuit breakers is increasing in North America and the Middle East. The effect of higher sales prices is also reflected in the performance. Sales of rotating and distribution devices are stable, and sales of energy storage devices (ESS) have also contributed to growth. Sales at corporate bodies in the U.S. recorded double-digit growth, and Chinese subsidiaries also saw their earnings improve nearly twice as much as the previous quarter.

 

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