Doosan Fuel Cell’s U.S. Data Center Power Market Entry Reassessed, Shares Jump 23% in Early Trading [Stock NOW]

[Financial News] Doosan Fuel Cell’s entry into the United States’ artificial intelligence (AI) data center power market is being reassessed, sending its shares up more than 23% in early trading.
On the KOSPI market on the 7th, Doosan Fuel Cell was trading at 54,000 won at 9:40 a.m., up 23.15%.
Doosan Fuel Cell announced on the 2nd that it had signed a contract to supply fuel cells for data centers to its U.S. subsidiary HyAxiom through April 2028. The contract is worth 501.4 billion won, equivalent to 110% of the company’s revenue last year.
Securities analysts view the contract as highly significant because it marks the company’s first entry into the U.S. data center power market.
NH Investment & Securities upgraded Doosan Fuel Cell’s rating from “Hold” to “Buy” on the 7th, reflecting the new order, and raised its target price by 70.6%, from 34,000 won to 58,000 won.
Jeong Yeon-seung, an analyst at NH Investment & Securities, said, “The U.S. fuel cell supply order that had been anticipated since the beginning of the year has materialized. This order confirms that phosphoric acid fuel cells (PAFCs), which have relatively low power-generation efficiency, can also enter the data center market based on strong U.S. demand for on-site power generation.”
[email protected] Joo Won-gyu Reporter