Business · Companies · 2 hrs ago
Shinhan cuts Hyundai E&C target price amid nuclear contract uncertainty
Shinhan Investment & Securities cut its target price for Hyundai E&C from 170,000 won to 140,000 won.
The South Korean construction company faces uncertainty over potential nuclear power contracts in the United States, alongside higher US interest rates and concerns at domestic project sites.
The brokerage kept its buy rating, saying it still expects the company’s nuclear business to support a revaluation next year.
It forecast third-quarter revenue of 6.4 trillion won and operating profit of 214.5 billion won, with profit in line with market expectations.
New orders reached 29 trillion won in the first nine months, close to Hyundai E&C’s annual target.
Shinhan expects earnings to improve from next year as low-profit projects are completed, but says uncertainty could limit a quick share-price recovery.
Shinhan Securities lowered its target price for Hyundai Engineering & Construction to 140,000 won from 170,000 won.
The brokerage cited uncertainty over nuclear power contracts, rising U.S. interest rates and domestic site issues.
It maintained its “buy” rating, saying it still expects the company’s share price to be revalued on its nuclear business next year.
Shinhan said the company’s third-quarter operating profit is expected to meet market forecasts.
- Who
- Shinhan Securities lowered its target price for Hyundai Engineering & Construction.
- What
- It cut the target to 140,000 won from 170,000 won and maintained a “buy” rating.
- When
- The report was issued on Oct. 15, 2026.
- Where
- Not stated
- Why
- Shinhan cited uncertainty over nuclear contracts, rising U.S. interest rates and domestic site issues.
This story does not have two clearly opposing sides.
Yonhap published its report on Shinhan Securities’ revised target price.
Shinhan Securities issued its report, cutting the target price while maintaining its “buy” rating.
- New target price
- 140,000 won
- Previous target price
- 170,000 won
- Rating
- Buy, maintained
- Previous closing price
- 98,800 won
- Third-quarter expected revenue
- 6.4 trillion won
- Third-quarter expected operating profit
- 214.5 billion won
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What people are saying
The share price may struggle to recover quickly as long as current macroeconomic conditions persist.
The delay in nuclear power contracts and uncertainty in market conditions led us to lower our target multiple.
We expect profit normalization from next year, when low-profit domestic and overseas sites are completed.
We recommend buying over a longer horizon during price corrections.