[Infostock Daily= Reporter An Hoe Hyun] On the 26th, Meritz Securities maintained its investment opinion 'Buy' on PARADISE and raised its target stock price by 10% to 22,000 won.
PARADISE recorded consolidated sales of 104.6 billion won and operating loss of 15.6 billion won in the fourth quarter of last year. Compared to the same period last year, sales fell 61.2% and turned into a deficit. However, it is estimated that it has made a good defense compared to the size of operating loss(25 billion won).
"In December last year, casino sales were 75 billion won, which was higher than before, and it predicted that the increase in sales would be offset by voluntary retirement-related costs, but the restructuring effect was greater than expected."
PARADISE's performance is also expected to improve on expectations that the global casino industry could enter a recovery phase. "Since the self-isolation clause when the Chinese entered Macau has been lifted since the 23rd and Thailand exempts self-isolation from vaccinators, it is time to increase the investment attractiveness of stocks affected by the COVID-19," the company explained, adding, "The complex resort has hindered investment due to its high cost structure, but it is a time when the attractiveness of investment has increased due to the changed structure."
Reporter An Hoe Hyun ahh@infostock.co.kr
