Shinhan Investment on the 7th raised Innocean's earnings estimate for the third quarter of this year, reflecting the recovery of the domestic advertising industry and high overseas growth.
It maintained its target share price of 85,000 won and "buy" in investment opinion.
Reflecting the mood in the domestic and overseas advertising industry, Shinhan Investment raised Innocean's total operating profit estimate for the third quarter of this year to KRW 159.1 billion from the previous KRW 158.3 billion, and its operating profit estimate by 0.51% and 1.48% from KRW 33.7 billion to KRW 34.2 billion, respectively.
"We expect total sales profit at our headquarters to rise 15.2% to KRW 32.7 billion in the third quarter," Shinhan Investment said. "Media outlets and overseas agencies are expected to grow nearly 40% and 80%, respectively, to drive earnings improvement.".
Total overseas sales profit is expected to reach 126.7 billion won, up 9.6% from last year.
Reporter Lee Ji-sun stockmk2020@gmail.com
