Business · Markets · 3 hrs ago
Kiwoom cuts Intellian Technologies target price after delayed deliveries
Kiwoom Securities lowered its target price for Intellian Technologies from 161,000 won to 150,000 won, while keeping its buy rating.
The South Korean company makes antennas for satellite communications, including low-Earth-orbit satellite networks.
Kiwoom expects third-quarter revenue of 75.8 billion won and operating profit of 1.5 billion won, down 1.9% and 35.7% from a year earlier.
Some gateway and flat-panel antenna deliveries were delayed, and orders for military antennas in Europe were pushed into the fourth quarter.
Kiwoom expects some delayed deliveries to proceed in the fourth quarter, helping business recover from the temporary setback.
The firm also expects OneWeb's growth to lift antenna sales, as demand for low-Earth-orbit satellite services expands.
Kiwoom Securities cut its target price for Intellian Technologies to 150,000 won from 161,000 won.
The brokerage expects the company’s third-quarter operating profit to fall short of market expectations because some deliveries were delayed.
Analyst Lee Han-gyeol forecast revenue of 75.8 billion won and operating profit of 1.5 billion won for the quarter.
Some delayed deliveries, including military antennas ordered in Europe, are expected to take place in the fourth quarter.
Kiwoom maintained its “buy” rating, citing expected growth in flat-panel antenna sales and the global low-Earth-orbit satellite communications market.
- Who
- Kiwoom Securities cut its target price for Intellian Technologies.
- What
- It lowered the target price to 150,000 won from 161,000 won while maintaining its “buy” rating.
- When
- The report was published on Oct. 29, 2026, in Korea.
- Where
- The delayed military antenna orders were in Europe.
- Why
- Kiwoom expected some deliveries to be delayed, weighing on third-quarter results and lowering its 2027 earnings-per-share estimate by 5%.
This story does not have two clearly opposing sides.
Kiwoom expected some LEO gateway and flat-panel antenna deliveries, along with European military antenna orders, to be delayed.
Kiwoom expected some delayed deliveries to proceed as normal.
- New target price
- 150,000 won, down from 161,000 won
- Third-quarter revenue forecast
- 75.8 billion won, down 1.9% year on year
- Third-quarter operating profit forecast
- 1.5 billion won, down 35.7% year on year
- 2027 earnings-per-share estimate
- Cut by 5%
- Current share price
- 54,600 won at the previous day’s close
1 source
What people are saying
Third-quarter revenue is expected to fall 1.9% from the same period last year to 75.8 billion won, while operating profit is expected to decline 35.7% to 1.5 billion won.
I believe this is due to some deliveries of gateways and flat-panel antennas in the LEO business being delayed.
The slower growth in the share of military antenna products has slowed the pace of improvement in the product mix.