- Posco plans to invest in a major new facility with Hyundai Steel in Louisiana.
- The project aims to produce eco-friendly steel and battery materials.
- Analysts project a 36.34% upside for Posco's stock with an "Outperform" rating.
South Korea's leading steel producer, Posco (PKX, Financial), is gearing up for a significant investment in partnership with Hyundai Steel. The duo has unveiled plans for a groundbreaking $5.8 billion facility in Louisiana. This state-of-the-art plant is scheduled to become operational in 2029, with an impressive production capacity of 2.7 million metric tons annually. A key focus for this facility will be on producing low-carbon steel and innovative battery materials, aligning with the growing trend towards sustainable industrial practices.
Wall Street Analysts Forecast
The investment community shows notable optimism for POSCO Holdings Inc (PKX, Financial). According to the one-year price targets set by a single analyst, the average target price stands at $60.20, with the same figure listed as both the high and low estimates. This suggests a potential upside of 36.34% from the current trading price of $44.15. For investors seeking more detailed projections, the data is available on the POSCO Holdings Inc (PKX) Forecast page.
Moreover, POSCO Holdings Inc (PKX, Financial) enjoys a positive reception from brokerage firms. With an average brokerage recommendation of 2.5 from two firms, the stock holds an "Outperform" status. This rating falls within a scale where 1 indicates a "Strong Buy" and 5 signals a "Sell." Such endorsements underscore the market's confidence in Posco's strategic directions and growth potential.
