[Infostock Daily= Reporter An Hoe Hyun] Shinyoung Securities said on the 25th that The Hitejinro maintains a high market share with products such as 'Terra' and 'Jinro is back', suggesting a 'BUY' investment opinion and a target stock price of 53,000 won.
Despite the continued COVID-19, The Hitejinro maintains monthly sales of 3 million boxes of Terra and 1 million boxes of Jinro is back. As a result, the beer market currently has a share of nearly 40%, and the soju market share has exceeded the mid to late 60% level, maintaining a high market presence.
"The desire to consume, which has been suppressed since the beginning of the year, is likely to soon spread to a 'revenge consumption phenomenon'," the company said, adding, "If COVID-19 enters a phase of easing, we believe that the desire that has been suppressed will lead to explosive consumption of alcohol." The company explained that since The Hitejinro is increasing its market share even in COVID-19, it can expect higher growth once the situation ends.
This year, The Hitejinro's consolidated sales and operating profit are worth 2.2879 trillion won and 201 billion won. It is predicted that it will increase 12.9% and 127.7% year-on-year, respectively.
Reporter An Hoe Hyun ahh@infostock.co.kr
