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[Alpha Biz=(Chicago) Reporter Paul Lee] Hyundai Motor Securities raised its target price of Samsung SDS by 25% from 160,000 won to 200,000 won on the 3rd. This is because the business performance in the cloud sector is good. The investment opinion maintained the buy-off.
Samsung SDS's fourth-quarter earnings were estimated at 3.4 trillion won in sales and 201.5 billion won in operating profit.
Hyundai Motor Securities Co. said, "Although it falls short of market expectations, it is expected to see a good performance of profit growth in the second half of the year."
Cloud sales in the fourth quarter are expected to be 568.1 billion won. This is an increase of 66% compared to the previous year.
Hyundai Motor Securities Co. said, "Cloud sales in the fourth quarter have hit a new record high," adding, "The portion of cloud in information technology (IT) services is expected to reach 34%."
Hyundai Motor Securities added, "Samsung SDS conducted extensive conversion training to train professionals (more than 4,000 people) for cloud management service providers (MSP) for one year from February 2022, and as a result, cloud sales, which were only 249 billion won in the first quarter of 2022, more than doubled in the fourth quarter of 2023."
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
