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[Alpha Biz=(Chicago) Reporter Kim Jisun] Regarding Ecopro, which soared 646.6% this year, Hana Securities published a report with an investment opinion of 'sell'.
The market's attention is focused on the eco-pro selling report, the first of its kind by a local securities firm.
"It is time for a close review of (EcoPro)," said Kim Hyun-soo, a researcher at Hana Securities on the 12th. "Great companies and current stock prices reflect much of their greatness." As of the previous day (11th), Ecopro's stock price was 769,000 won, which is 40.96% lower than the target price.
Researcher Kim explained that it is true that the future performance of the secondary battery industry is highly visible, but it is burdensome to bring the value in seven years to the present and reflect it in stock prices. According to his analysis, the longest time the Korean secondary battery industry endures appropriate risks and is currently able to value is about 50 to 60 months later, approximately 2027. It is clear that Ecopro Group will grow until then, but it pointed out that stock prices have jumped too much without considering risk factors.
Ecopro's target market capitalization for 2027 is KRW 11.8 trillion, calculated by researcher Kim. It is based on the expected profits of each subsidiary, specifically EcoPro BM 5.8 trillion won, EcoPro Materials 3.6 trillion won, EcoPro Innovation 600 billion won, and EcoPro CnG 8000 billion won. As of the previous day, Ecopro's market capitalization is 19.8995 trillion won.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
