Doosan stock faces lower target despite sharp Q3 operating-profit gain

Doosan entered Tuesday, November 10, 2026, with a split investor picture: Hana Securities sharply reduced its target price, while third-quarter operating performance accelerated. EDaily reported that the broker cut its target from 2.42 million won to 1.27 million won and kept its Buy rating.

Target cut meets stronger operating trends

EDaily attributed the lower target to revised valuation multiples after global peers declined. The report said Doosan's copper-clad laminate business remains supported by demand for materials used in AI accelerators, network switches and optical modules.

The Electronics Business Group generated third-quarter revenue of 802 billion won, up 82 percent from a year earlier, while operating profit rose 127 percent to 235.3 billion won. Fourth-quarter revenue guidance for the unit stands at 814.6 billion won, with the Changshu plant in China ramping up after entering full-scale operations.

Profit growth outpaced net income

According to Yonhap News Agency, Doosan reported third-quarter revenue of 5.42 trillion won, an increase of 22.2 percent year over year. Operating profit climbed 98.4 percent to 459.4 billion won, but net profit fell 7.5 percent to 103.1 billion won. Operating profit was 1.8 percent below the average estimate cited by Yonhap Infomax.

Doosan plans to invest about 970 billion won in copper-clad laminate capacity through 2028. The expansion is planned across China, South Korea and Thailand, with total capacity targeted at about 2.68 times its current level by the end of 2029.

Business mix shapes the outlook

Doosan oversees power generation, construction equipment and power storage solutions. Its results therefore combine the fast-growing electronics-materials business with industrial and equipment operations, leaving investors to weigh AI-linked demand against valuation and execution risks.

South Korean equities remain the broader market setting for Doosan shares; more news and analyses on Doosan stock are available on the company topic page.