Regarding Youngone Trading, DB Financial Investment said, "We maintained a 'buy' rating with a target price of 58,000 won as the valuation was judged to be more attractive compared to global peers.
DB Financial Investment said in a report on the 15th, "Considering the market situation in which supply is insufficient with strong forward demand, we believe that concerns about the 4Q and 1H results can be dismissed."
Youngone recorded consolidated sales of KRW 795.2 billion and operating profit of KRW 140.3 billion in the third quarter. Sales decreased by 1.5% compared to the same period of the previous year, but operating profit increased by 28.7%, significantly exceeding the consensus.
DB Financial Investment said, "OEM sales grew by about 10% and SCOTT sales decreased by about 20%," said DB Financial Investment. Compared to the explosive growth due to the combination of pent-up consumption demand, the performance growth was poor."
DB Financial Investment evaluated that "Youngone's crisis management capabilities stand out, considering that OEM sales and profits were solid despite abnormal movements in the global supply chain, such as the recent logistics crisis and rising raw and subsidiary material prices."
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
