[Infostock Daily= Reporter An Hoe Hyun] NH Investment & Securities said that FILA Holdings is expected to exceed expectations due to the recovery of U.S. performance and the strong business performance of its subsidiary Acushnet in the third quarter earlier than expected. The investment opinion remained 'Buy' and the target stock price was raised 22% from 41,000 won to 50,000 won.
"We will raise our net earnings per share this year and next year in consideration of the rapid recovery of FILA's U.S. business and Acushnet's strong performance due to the growing global golf population," the company explained.
FILA Holdings' consolidated sales in the third quarter were estimated at 805 billion won, down 7% from a year earlier, and operating profit was estimated at 98.2 billion won, down 21%, respectively.
"In line with FILA's global business, consumption recovery and inventory demand, it will continue to show good performance in the fourth quarter," the company said, adding, "It is a pity that there are no hit items, but we expect it to continue to grow through active expansion of online channels."
Also, "The subsidiary Acushnet is expected to perform better than expected due to the increase in the global golf population, including Korea," the company predicted.
Reporter An Hoe Hyun ahh@infostock.co.kr