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LIGNEX1 office building (photo = LIGNEX1) |
[Alpha Biz= Reporter Kim Jisun] Daishin Securities has analyzed LIG Nex1's strategic moves, particularly its acquisition of Ghost Robotics, which strengthens its competitive edge in unmanned warfare. The firm also highlights the upcoming ramp-up in sales of Cheongung-II to three Middle Eastern countries and the potential Pohang missile export to the U.S., forecasting significant revenue growth.
The firm has maintained LIG Nex1 as its top pick in the defense sector, setting a target price of 305,000 KRW, a 54.7% upside from the last closing price of 197,100 KRW.
Daishin Securities noted that LIG Nex1's export revenue share has increased from 16.6% in 2023 to 26.4% in the third quarter of 2024, with Middle Eastern orders for Cheongung-II expected to continue boosting revenues through 2025. They predict a 39% increase in operating profit for 2025, with UAE, Saudi Arabia, and Iraq driving sales growth for the missile system.
Additionally, the Ghost Robotics acquisition, with LIG Nex1 securing a 60% stake, is seen as a strategic move to capture more opportunities in unmanned systems, further supporting its defense technology portfolio.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
