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[Alpha Biz=(Chicago) Reporter Paul Lee] Hana Securities Co. on the 8th offered a target price of 420,000 won for Ecopro.
"The stock price is like a popular vote in the short term, but it is like a scale in the long run. After the heat has subsided, we need to have a standard of judgment on where the scale will point to minimize losses. Participation in the volatility battle in the area of a bubble that exceeds its intrinsic value only ends up as a fine. It reflects the current value discount due to rising interest rates," Hana Securities said.
Hana Securities said, "The long-term intrinsic value of EcoproBM is 32.9 trillion won (which reflects reduced market capitalization due to rising interest rates and weighted average capital costs). Among them, the value of the holding company is 7.4 trillion won. Eco Materials is listed at 2.5 trillion won, but considering the growth of long-term performance due to lack of precursor supply, the current value is 2.9 trillion won.
The value of the holding company is 800 billion won. In addition, if the value of Ecopro, a holding company that combines the values of other subsidiaries, is discounted at the current price, 10.9 trillion won will be derived. Considering the gap with the current market capitalization of 22.9 trillion won, the current stock price is virtually in a valuation vacuum. "
Meanwhile, Ecopro's consolidated performance in the third quarter was sluggish with sales of 1.9 trillion won and operating profit of 65 billion won.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
