Hyundai Heavy Industries (HHI) has seen its rating downgraded at Nomura, but still remains the investment bank’s preferred sector pick.
“Since the second quarter earnings surprise, HHI’s share price has risen 29%, mainly owing to market expectations on its earnings recovery with solid refinery margins and cost-cutting efforts and its better position to receive new orders compared to other yards,” said Nomura analysts Jaehyung Choi and Angela Hong.
“Despite
