[Infostock Daily=Reporter Lee Dong-hoon] Hyundai Motor Securities raised the target price to 22,000 won.
Hyundai Motor Securities analyzed, "BGF Retail aggressively open new stores last year (1,046 stores, 7.5% compared to the end of last year) provided the conditions to kill two birds with one stone. The company recorded volumne growth and recovery of profitability this year. The vaccination will improve the performance of special location stores that posted sluggish sales during COVID-19. Postive earnings momentum is expectd every quarter as profitability improves and fixed costs get reduced with increaed inventory."
The securities firm raised the profit forecast in consideration of the improvement of the business environment. The sales forecast is maintained, but operating profit is raised by 2.3%. There is a possibility that profits will be raised depending on the degree of improvement of special location stores in the future. Stock price outlook and valuation
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
