[Infostock Daily= Reporter An Hoe Hyun] On the 15th, Daishin Securities maintained its investment opinion 'Buy' and target stock price of 94,000 won for Coway, saying that it is expected to have stable performance in both domestic and foreign markets.
Coway's consolidated sales in the fourth quarter of last year were estimated at 812 billion won, up 2.2% from a year earlier, and operating profit was estimated at 136.2 billion won, up 205.3%, respectively.
"With the end of the CS Doctor strike, sales of domestic environmental home appliances gradually increased in October compared to September last year and gradually increased in November compared to October, and raised the social distancing to 2.5 level in December, which would have resulted in a smooth increase in sales even considering that there was a disruption in door-to-door sales," the company said, adding, "The overall sales of environmental home appliances will also reach more than 300,000."
"In addition to sales, there is a growing demand for non-face-to-face self-management products for rental in the wake of COVID-19," the company explained, adding, "New products that can be managed non-face-to-face are creating new demands for customers that Coway has not been focusing on, such as young people and small households, so it can be seen positively."
Analysts say that expansion of product categories in Malaysia will also stand out in overseas markets.
Reporter An Hoe Hyun ahh@infostock.co.kr
