Samsung Heavy Industries Cut Target Price to KRW40,000 While Maintaining Buy Rating on July 16

According to Samsung Securities on July 16, the target price for Samsung Heavy Industries was lowered to KRW40,000 from KRW43,000, but the stock still has 83% upside potential from the previous closing price of KRW21,850. The brokerage maintained its 'buy' rating. Samsung Heavy Industries has already secured $10 billion in new orders this year, equivalent to 72% of its annual target and 26% higher than last year's full-year order intake. The company derives 45% of this year's orders from its core FLNG (floating liquefied natural gas) business, where it holds a 44% market share and maintains a monopoly on mega-scale projects exceeding 3 million tons per annum.
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