[THE INVESTOR]
Hyundai Steel Co. is likely to post significant jump in operating profits for the second quarter of the year, HMC Investment Securities projected on June 16.
Saying that Hyundai Steel is likely to have gained momentum in the second quarter and that the price increased projected for the second half of the year will further improve performance, HMC maintained the “buy” rating and the target price at 73,000 won ($62).
On June 16, Hyundai Steel opened at 47,350 won, up 150 won from market close on the previous day.
HMC projected that Hyundai Steel will post consolidated operating profit of 406 billion won for the second quarter, up 51 percent from the first quarter.
By Choi He-suk (
cheesuk@heraldcorp.com)
