Phoenix PDE(050090): Building new momentum with nano material business
- Company update
- Revise up our TP and maintain BUY recommendation
> 3Q06 OP came in at KRW4.2bn on sales of KRW18.7bn, ending 2Q06 slump. Sales of PDP powder will remain robust throughout 4Q06.
> Nano material business will provide long-term growth engine.
> Mass production of Ag flake started in September. The company aims to achieve monthly sales of KRW1bn in FY07 with this product.
> We revise up our TP to KRW6,300(P/E 9.7x on FY07E EPS). |
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