We analyze investment strategies and market outlooks for major stocks, including Doosan Enerbility and Samsung Electronics.
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In the recent market, both foreign and institutional investors were confirmed to have bought Samsung Electronics the most. Foreign investors tended to concentrate their buying on relatively low-priced penny stocks, while institutional investors primarily invested in the nuclear power and construction sectors.
Doosan Enerbility's stock price surged as news of its participation in XAI's combined cycle power plant construction became prominent. This is the first US investment project, planned for the Texas region, and expectations are growing for orders of key equipment such as gas and steam turbines.
As the construction of AI data centers accelerates, power supply and demand issues have emerged as critical concerns. With a void in the promotion of Small Modular Reactor (SMR) projects, combined cycle power generation at major hubs is drawing attention as a way to supplement power supply.
Due to combined cycle power plant construction projects, a trickle-down effect in demand is expected for stocks with strengths in specialized equipment such as gas turbines and heat recovery steam generators. The possibility of combined cycle power generation being included as the second US investment agenda is also being raised.
Recently, AI infrastructure-related stocks such as TerraPower, Oklo, and Volue Energy showed solid gains in the US stock market. This trend is analyzed to have served as a backdrop for the continuous price momentum of AI infrastructure stocks like Doosan Enerbility in the domestic market.
Despite its recent decline, Doosan Enerbility is rising with solid downside support due to demand inflows from various entities including institutions, financial investors, and pension funds. Based on this robust trend, it is expected to comfortably rise to the 10,000 won range initially.
For existing Doosan Enerbility holders, a strategy of partially reducing holdings based on the 120-day moving average is deemed effective. Given today's sharp rise, it will be necessary to observe whether the price momentum continues in tomorrow's trading.
Looking at Samsung Electronics' supply and demand trend for September, foreign investors net bought approximately 778 billion won, and institutional investors net bought approximately 1.2 trillion won. In contrast, individual investors net sold about 4.4 trillion won, appearing to realize short-term profits.
With growing expectations for shareholder return policies, individual investors showed a movement to realize short-term profits.
With the release of OpenAI's Astra model strengthening computing capabilities, expectations are growing that advanced computing by CSP (Cloud Service Provider) companies could lead to increased demand for memory semiconductors. This is expected to alleviate or dilute excessive concerns about the memory cycle that were previously raised.
This week, important macro variables remain for Samsung Electronics investment. The Producer Price Index and Consumer Price Index are scheduled for release on September 12th and 13th, respectively, and the FOMC's interest rate policy decision on September 17th will be a key factor. Investors should pay close attention as stock price volatility may increase following the release of these macro variables.
Until this week's macro indicators are released, a conservative approach is needed rather than an aggressive strategy of expanding positions. It is effective to approach with a staggered buying perspective when the stock price corrects after the indicators are released, and it is necessary to formulate an investment strategy in conjunction with expectations for third-quarter earnings.
Samsung Electronics' stock price is currently showing a somewhat confined trend between the upper and lower bounds based on the 120-day moving average. Nevertheless, the continuous rise in the low point is interpreted as a positive signal.
In the mid-to-long term, data center expansion issues are expected to be a major beneficiary factor for Samsung Electronics.
Foreign brokerage Nomura rated Samsung Electronics as severely undervalued, setting a target price of 670,000 won. Goldman Sachs also stated that the AI semiconductor sector is very undervalued, and the overall KOSPI market still has about 80% upside potential.
LG Display's second-quarter earnings, which reflected one-off costs due to restructuring, were somewhat within the predicted range. However, the crucial question is whether it can achieve a clear turnaround to profit by the third quarter, and this uncertainty is the background for the sell recommendation.
In the second quarter, LG Display's performance was poor due to the disappearance of the World Cup event effect, among other factors. The logic that an increase in OLED shipment proportion due to the iPhone 16 model launch will lead to improved third and fourth-quarter performance should be approached cautiously.
It is necessary to check cumulative third-quarter data and carefully examine whether the OLED shipment proportion is actually expanding.
Recently, media outlets reported an exclusive story that LG Display would exclusively supply OLEDs to Japan's Sharp. This can be seen as an acknowledgment of LG Display's technological prowess.
However, LG Display continued to report operating losses in the second quarter, and a turnaround in performance is expected in the third and fourth quarters due to the reflection of one-off costs.
Despite this positive news, the stock's upward momentum is expected to be relatively low compared to other stocks.
Sammi Metal's rise appears to reflect a significant increase in a small-cap stock. While specific orders for gas turbine combined cycle power plants are not yet clearly reflected, the composition of its value chain should be noted.
Sammi Metal currently has a business structure with a high proportion of automobile and ship engine parts.
Sammi Metal's circulating shares account for only about 20% of the total number of shares, as its parent company, Kumkang Kind, holds approximately 70% of the stake.
Stocks with low circulating shares can experience significant price volatility even with small trading volumes.
Therefore, caution is needed when investing during recent sharp price surges due to increased trading volume.
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