[Market Movers] Samsung E&A Surges 15% on Hopes of Expanding Into Energy Sector

SAMSUNG E&A is surging on expectations of expanding into the energy sector.

As of 9:37 a.m. on April 6, SAMSUNG E&A was trading at 46,900 won, up 15.66% from the previous trading day.

On this day, Mirae Asset Securities raised its target price for SAMSUNG E&A to 53,000 won, stating that the company's expansion into the energy sector remains positive despite the Middle East crisis.

Kim Giryong, a researcher at Mirae Asset Securities, explained, "Business restructuring and achievements aimed at expanding into the energy sector are gradually becoming more concrete," and added, "There are high expectations for LNG, clean energy, and water businesses, which are key pillars of the company’s medium- to long-term growth."

Kim also stated, "The resumption of group orders this year, along with the expansion of business areas in the global energy sector, will serve as a driver for a higher multiple based on growth potential compared to traditional plant EPC (engineering, procurement, and construction). While current Middle East risks have acted as negative factors, expectations for a resumption of orders after the resolution of disputes remain high."

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