Hanwha Ocean's Shares May Be Overvalued, Nomura Says -- Market Talk
Dow Jones
Jun 26, 2025
0545 GMT - Hanwha Ocean's shares may be overvalued, Nomura analysts Eon Hwang and Heesoo Min write in a note. The South Korean shipbuilder's stock has already priced in market expectations that it may gain from strengthening U.S. government rules on rival Chinese shipyards and a business opportunity in the U.S. naval-fleet buildup, the analysts say. Still, they expect Hanwha's new contract wins to rise 17% to $11 billion in 2025, as demand for liquefied natural gas carriers remains solid on increased U.S. LNG supply. Nomura raises the stock's target price to KRW57,000 from KRW55,000 while maintaining a reduce rating. Shares are 3.5% lower at KRW79,600. (kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
June 26, 2025 01:45 ET (05:45 GMT)
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