Doosan Group poised to become exclusive supplier of Nvidia’s next-generation AI servers; Samsung Heavy Industries’ operating profit expected to jump 88% [Jutopia]

[The Financial News] On the morning of January 27, here is a summary of key brokerage reports.
Analysts say Doosan Group is likely to become the exclusive supplier for Nvidia Corporation’s next-generation artificial intelligence (AI) server product, which should drive a sharp improvement in earnings from the third quarter. Samsung Heavy Industries’ operating profit for the fourth quarter of last year is expected to surge 88.5% year-on-year, beating market consensus. COSMAX’s fourth-quarter results are likely to be weak, but the company is targeting 15% domestic sales growth this year.
◆Doosan Group (000150)― DS Investment & Securities / Kim Soo-hyun, head of the research center at DS Investment & Securities
- Target price: 1.68 million won (raised from 1.5 million won)
- Investment rating: Buy
DS Investment & Securities stated that Doosan Group is highly likely to secure the position of main supplier of server boards used in Nvidia Corporation’s next-generation AI platform, the "NVIDIA Vera Rubin platform," and that this should drive an earnings takeoff from the third quarter of this year. Reflecting this outlook, the firm raised its target price from 1.5 million won to 1.68 million won. Kim Soo-hyun also noted that if the ongoing acquisition of SK Siltron is successfully completed, Doosan Group’s share price is likely to be re-rated.
◆Samsung Heavy Industries (010140)― IBK Securities / Jihoon Oh, analyst
- Target price: 36,000 won (raised)
- Investment rating: Buy
IBK Securities expects Samsung Heavy Industries’ fourth-quarter results for last year to beat market expectations. Analyst Jihoon Oh forecasts that operating profit in the fourth quarter will increase 88.5% year-on-year. He added that Samsung Heavy Industries is showing the steepest product mix improvement among shipbuilders in the fourth quarter, with a higher share of high-margin products, and that new order announcements from the Republic of Mozambique and the United States of America (US) are also anticipated within the year.
◆COSMAX (192820)― Mirae Asset Securities / Songyi Bae, analyst
- Target price: 230,000 won (maintained)
- Investment rating: Buy
Mirae Asset Securities expects COSMAX’s fourth-quarter results to fall short of market expectations, citing fewer working days and seasonal factors that limited new orders, and concludes that it is more appropriate to buy the stock after confirming a recovery in profitability. Analyst Songyi Bae explained that earnings in Southeast Asia are likely to decline due to local political and economic uncertainties, while in the US the timing of reaching the break-even point is being pushed back.

sms@fnnews.com Seong Min-seo Reporter