- We initiate coverage of Huchems with BUY and a target price of KRW27,000.
- Capacity expansion for nitric acid and MNB as well as the rising price of carbon emission permits should provide strong earnings momentum going forward.
- We recommend investors to buy and hold the shares.
Analyst's Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Hyundai Motor Company is a passive shareholder in our bank.
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