Doosan Enerbility nuclear equipment backlog seen growing 29% annually through 2030
Oil prices climbed for a fourth consecutive day on September 4 as the resumption of fighting in the Middle East revived concerns about prolonged tightness in global petroleum supplies. West Texas Intermediate crude rose 1.6% to $92.46 a barrel, while Brent gained 1.1% to $96.65 a barrel.
Ritterbusch & Associates said in a note that “some measure of comfort had gradually been developing as increased ships were reportedly exiting the Strait of Hormuz.” But with a diplomatic solution appearing “far off,” the firm wrote, “it is safe to say that there is no end in sight to this quagmire that is likely to keep petroleum prices much elevated through the end of this year.”
Earlier in the session, Nomura analysts Cindy Park and Dongmin Lee resumed coverage of nuclear-equipment maker Doosan Enerbility with a buy rating and a target price of 110,000 won.
The analysts said they expect Doosan’s nuclear power plant equipment order backlog to grow at an annual rate of 29% from 2026 to 2030 amid what they described as expanding global nuclear power capacity. They added that the company’s small modular reactor foundry business is expected to increase its annual production capacity to 20 by 2028, up from 12 currently, supported by U.S. clients including NuScale Power and TerraPower.
Doosan Enerbility shares were last 0.4% lower at 78,900 won.
The two analyst notes, published on September 4, covered divergent areas of the energy sector: crude markets responding to Middle East geopolitical developments, and the outlook for nuclear-equipment suppliers amid expanding global nuclear capacity.