Shinhan Financial Investment maintained its target stock price of 120,000 won and its investment opinion of "buy" on CJ, saying that restructuring of its governance structure is the key point to watch in the mid- to long-term.
Shinhan Financial Investment said on the 30th, "CJ CheilJedang and CJ ENM continue to perform well.".
"CheilJedang is expected to see its operating profit grow more than 20 percent on-year this year due to growth in the processing and bio sectors, while ENM is also expected to post high operating profit growth thanks to high growth in the advertising sector," Shinhan Investment predicted.
"Olive Young, a key unlisted subsidiary, posted 513.3 billion won in sales in the second quarter, and the online sector is offsetting sluggish offline sales caused by a prolonged social distance," Shinhan Investment said. "The online sector continues to grow, accounting for nearly 23.4% of total sales.".
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com