Dongkuk Steel(001230): Better days ahead
- 3Q06 comment
- Revise up our TP to KRW24,000 from KRW22,000 and maintain BUY
> Poor 3Q06 results due to hikes in material prices.
> On the back of hike in plate price, Donkguk’s steel plate margin should recover from 4Q06.
> We expect 4Q06 OP to grow 42% q/q to KRW70.6bn.
> Moreover, we revise up FY07 OP estimate by 12% to KRW323.6bn from KRW289.7bn.
> We revise up our TP to KRW24,000 from KRW22,000. |
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