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[Alpha Biz=(Chicago) Reporter Kim Jisun] Shares of POSCO Holdings have more than doubled this year, but the stock market has raised its target price to up to 900,000 won, saying it has more room to rise.
According to the Korea Exchange on the 25th, POSCO Holdings closed at 658,000 won, up 2.49% from the previous trading day. Foreigners sold KRW 1.33 trillion that day. Some short selling (270.9 billion won) also seems to have affected.
However, individuals bought 1.19 trillion won and institutions bought 102.3 billion won to support stock prices. Since the 14th of this month, foreigners have been selling for eight consecutive trading days, and individuals have been in tug-of-war. The agency sold for seven consecutive trading days from the 17th, but turned to buying.
Korea Investment & Securities raised its target price from 500,000 won to 900,000 won, saying, "POSCO Holdings is capable of long-term growth by 2030 in the field of secondary battery materials with the most growth." Kiwoom (630,000 won → 730,000 won), Samsung (470,000 won → 800,000 won) and NH (480,000 won → 750,000 won) also raised their target prices.
POSCO Future M, an affiliate, also closed at 598,000 won, up 10.33% amid favorable reviews from the stock market. Individuals bought 20 billion won and institutions bought 11.2 billion won, while foreigners sold 34.3 billion won.
Regarding POSCO Future M, NH Securities said, "It is raising its production capacity (CAPA) and performance in 2030 due to the recent increase in mid- to long-term supply contracts amid power competition among customers," raising its target price from 260,000 won to 560,000 won.
NH Investment & Securities raised its target share price to 77,000 won from the previous 45,000 won and explained, "We considered strengthening growth and expanding the role of hydrogen and secondary battery value chain due to increased investment in the energy business."
POSCO International's stock price closed at 74,400 won, up 12.73%, leaving only 2,600 won to its target price. POSCO International also led the stock price with individuals buying KRW 70.1 billion, while foreigners and institutions sold KRW 43.8 billion and KRW 24.6 billion, respectively.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
