[Alpha Biz=(Chicago) Reporter Paul Lee] Hyundai Motor Securities Co. said on the 8th that stock prices are falling due to excessive concerns about Kolon Global, predicting that downward pressure on stock prices will gradually weaken due to the construction of major sites. The investment opinion was 'buy' and the target price was 'down' 25% from 16,000 won to 12,000 won. The closing price of the previous trading day is 9180 won.
"Kolon Global's stock price has been on the decline recently due to concerns over PF payment guarantees," Hyundai Motor Securities said. "The downward pressure on stock prices is expected to weaken as the construction of major sites and the conversion of the main PF are made."
Kolon Global turned to a deficit of 737.4 billion won in consolidated sales and 32.8 billion won in operating losses in the fourth quarter of last year. Operating profit reached 12.8 billion won last year. As the cost of the increased material qualifications began to be reflected relatively late compared to other companies, the cost adjustment seems to continue.
"Considering this, we conservatively estimated the possibility of cost hikes at some sites in the first quarter of this year," Hyundai Motor Securities said. "Last year's sales totaled 2,249 households, up 58.5% from the previous year, which is still insufficient compared to 9,276 households in 2021."
As a result, sales in the housing sector this year will fall year-on-year, but Shin believes that increased orders and rapid sales in non-residential sectors, such as general architecture, civil engineering and plants, will be able to defend themselves. The proportion of non-housing is gradually increasing compared to 27% in 2021 and 30% in 2022.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
