"POSCO ICT Has Bright Future with Smart Grid and LED Techs"...HMC Securities

SEOUL, KOREA- HMC Investment Securities said on August 20 that it determined its investment opinion on POSCO ICT at "buy" with a target share price of 13,000 won based on a judgment that the company is engaged in two highly promising smart grid and LED businesses.HMC Investment Securities analyst Park Han-woo said, "POSCO ICT possesses technology in the smart grid area for which it proved its competency in the oxygen production facility in POSCO's Gwangyang steel works."

 

In addition, the analyst said, the company has technologies in the areas of energy storage system and energy management system, as well as LED capabilities. "POSCO ICT is already producing LED devices for industrial and home use jointly with its affiliate POSCO LED. POSCO LED posted last year a sales revenue of 41.3 billion won and a net loss. But this year it is expected to record more than 70 billion won in sales revenue and a net profit," Park said.

 

"In overseas markets, POSCO ICT is increasing its sales through marketing channels provided by Daewoo International, a POSCO Group trading company. Given the high market potential in China, its overseas sales are expected to rise steadily for years to come," he added.