HMM, KR7011200003

Shinhan raises target for HMM stock to KRW 26,000

Published on 10/14/2026 at 03:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Shinhan lifted its rating from Neutral to Buy on October 14, 2026. HMM stock trades at KRW 23,250, 6.81 percent below its high.

Target revision and earnings path

Shinhan Investment raised its HMM target from KRW 20,000 to KRW 26,000 on October 14, 2026.
HMM reported KRW 3.40 trillion revenue in the second quarter of 2026, up 29.70 percent year over year.
HMM's expected next earnings date is November 11, 2026.

HMM, KR7011200003, Illustration mit AI erstellt.

HMM (KR7011200003) drew a higher valuation call on October 14, 2026, after Shinhan Investment raised its target from KRW 20,000 to KRW 26,000 and upgraded its rating from Neutral to Buy. Korea Economic TV reported that the change reflected stronger expected earnings recovery despite governance uncertainty.

Three earnings milestones

HMM reported KRW 2.72 trillion revenue in the first quarter of 2026, according to ETF Shopping on May 13, 2026. Revenue then reached KRW 3.40 trillion in the second quarter, up 29.70 percent year over year, while operating profit rose to KRW 354.10 billion, up 51.90 percent.

On October 14, Shinhan projected third-quarter revenue of KRW 4.08 trillion, up 51.00 percent year over year, and operating profit of KRW 1.04 trillion, up 238.00 percent. eToday said the operating-profit estimate was 46.00 percent above market consensus.

What does the target change mean?

The revised KRW 26,000 target is 30.00 percent above Shinhan's previous KRW 20,000 target. The same report applied a target price-to-book ratio of 0.84 to HMM's 12-month forward book value per share, making the valuation framework more important than the headline earnings estimate.

The earnings case depends on freight conditions. Shinhan linked the stronger third-quarter view to container-rate gains, while the report identified faster Suez Canal normalization and longer-term vessel oversupply as risks to earnings durability.

Reporting date and market value

ETF Shopping lists November 11, 2026 as HMM's expected next earnings date. The company therefore enters the next reporting cycle with second-quarter revenue of KRW 3.40 trillion and a third-quarter operating-profit estimate of KRW 1.04 trillion.

HMM shares were at KRW 23,250 on the KRX on October 14, 2026 at 10:23 a.m. KST, placing the price 6.81 percent below the 52-week high of KRW 24,950. Market capitalization was KRW 21.9 trillion, while the 52-week range ran from KRW 17,910 to KRW 24,950.