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[EQUITIES] ‘GS E&C slow in recovery’

[THE INVESTOR] GS Engineering and Construction is lagging in recovery, said Shinhan Investment on Oct. 27, lowering the target price to 38,000 won (US$33.36) from 39,000 won. 

Its operating profit soared 252.7 percent to 38.4 billion won on-year but this is lower than market expectations (57.8 billion won), said analyst Park Sang-yeon. 

“A total of seven low price constructions will continue into the fourth quarter,” dragging down the speed of recovery, but in 2017 the figures will improve significantly as the numbers will come down to two and it also plans to sell 28,000 housing units,” explained the analyst.

By Hwang You-mee (