Hyundai Heavy Industries Co., whose stock more than quadrupled this year, rose to a record in Seoul trading after analysts raised their share-price targets by as much as 41 percent on an optimistic earnings outlook, according to a Bloomberg report. The world's biggest shipbuilder gained 4.1 percent to $581.49, the highest since they started trading in August 1999. The stock is the best performer of the 50 biggest companies in South Korea's Kospi index this year. Yards in South Korea, the world's largest shipbuilding country, are reporting record earnings this year on demand for vessels to transport raw materials to China and finished goods to the U.S. and Europe. Shipbuilding accounts for about half of Hyundai Heavy's sales. The company also makes marine engines and develops electronics.
