Doosan Fuel Cell Surges 23% Early in Trading as Its Entry into the U.S. Data-Center Power Market Is Reassessed [Stock NOW]

[Financial News] Doosan Fuel Cell is up more than 23% in early trading as news of its entry into the U.S. artificial intelligence (AI) data-center power market prompts a reassessment of the company.
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 its investment rating on Doosan Fuel Cell from “Hold” to “Buy” and raised its target price by 70.6%, from 34,000 won to 58,000 won, reflecting the order announced that day.
Jung 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 become a tangible result.” Jung added, “This order confirmed that phosphoric acid fuel cells (PAFCs), whose power-generation efficiency is relatively low, can also enter the U.S. data-center market, supported by strong demand for on-site power generation.”
[email protected] Joo Won-kyu Reporter