HMM stock upgraded to Buy as freight outlook strengthens

HMM received a more positive analyst assessment on October 29, 2026, when Sangsangin Securities upgraded its rating from Hold to Buy and raised its target price from KRW 22,000 to KRW 26,000. The assessment was reported by Aju Press.

Freight market drives revised outlook

Sangsangin researcher Lee Seo-yeon said the stronger-than-expected container market could create earnings leverage and lift HMM's third-quarter result above market expectations. The brokerage revised its estimates upward and also incorporated higher valuations for global peers into its target multiples.

The brokerage forecasts third-quarter consolidated revenue of KRW 3.83 trillion and operating profit of KRW 948.6 billion. Its estimate for the container segment is KRW 3.33 trillion in revenue and KRW 876 billion in operating profit, with the container business identified as the main driver of the expected improvement.

Fourth-quarter risks remain

Sangsangin expects favorable conditions to continue into the fourth quarter, while noting that the pace of freight-rate increases may moderate. It pointed to possible ongoing effects from war-related disruptions, climate-related bottlenecks and port congestion. These factors could support rates, but they also underline the sensitivity of HMM's earnings outlook to freight markets and operating conditions.

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