KB Securities cuts target for Poongsan stock to KRW 112,000

Published on 10/19/2026 at 00:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q3 operating profit is forecast at KRW 84.7 billion, 25 percent below consensus. November 16, 2026 is the next filing date for Poongsan stock.

The numbers behind the reset

KB Securities cut its Poongsan target from KRW 140,000 to KRW 112,000 on October 7, 2026.
Poongsan reported KRW 1.47 trillion in second-quarter revenue and KRW 125.2 billion in operating profit.
Poongsan's next filing deadline is November 16, 2026.

Poongsan, KR7103140000, Illustration mit AI erstellt.

Poongsan (ISIN KR7103140000) was subject to a KB Securities target cut from KRW 140,000 to KRW 112,000 on October 7, 2026, as Yonhap reported. The brokerage kept its Buy rating while citing weaker near-term earnings expectations and uncertainty around the defense business.

Three dates shape the setup

On October 2, 2026, the National Pension Service was reported to hold 8.22 percent of Poongsan after increasing its stake by 1.04 percentage points, according to ATS View. On October 7, 2026, KB Securities forecast third-quarter operating profit of KRW 84.7 billion, 25 percent below consensus, and cut its target to KRW 112,000, according to Yonhap. On October 15, 2026, analysts cited third-quarter revenue guidance of KRW 415.3 billion and expected a second-half recovery in the defense division, as The Asia Business Daily reported.

What does the Q3 forecast mean?

The forecast puts execution ahead of copper prices. Poongsan generated KRW 1.47 trillion in revenue and KRW 125.2 billion in operating profit in the second quarter of 2026, compared with KRW 1.27 trillion and KRW 90.2 billion in the first quarter, respectively, according to ATS View. The second-quarter revenue increase was 13.6 percent year over year, but the third-quarter forecast reflects delayed defense deliveries and weaker metal gains.

For the copper segment, KB Securities estimated operating profit at KRW 37.0 billion, down 59.1 percent from the previous quarter. Its defense estimate was KRW 47.7 billion, up 28.1 percent year over year but constrained by delayed acceptance testing and shipments, according to Yonhap. The combination leaves the stock sensitive to the timing of defense deliveries rather than copper prices alone.

Upcoming dates carry the next test

Poongsan's next earnings report was listed for October 29, 2026 by TradingView. The next filing deadline is November 16, 2026, for the reporting period ending in September, according to ATS View. These dates should clarify whether deferred defense revenue starts to offset the weaker third-quarter outlook.

KRW 62,100 remains the market reference

Poongsan was last at KRW 62,100 on the KRX on October 16, 2026 at 3:30 p.m. KST. Its 52-week range was KRW 55,200 to KRW 159,200, while market capitalization stood at KRW 1.7 trillion on that date. The gap between the latest operating forecast and the second-quarter result makes the October reporting window the key factual test for the valuation.