KB Securities maintained its target stock price of 340,000 won, saying, "It is a solid performance, but the stock price is extremely undervalued.".
KB Securities explained, "Despite the continued good performance of the department store sector, the stock price is showing a sluggish trend due to weak investor sentiment in the duty-free industry.".
KB Securities said, "Total sales are expected to grow by 18% and operating profit is expected to increase by 23% in 2022.".
"Most of the increase in operating profit in 2022 is expected to be based on its incorporation into Gwangju Shinsegae, a 32% increase in operating profit at duty-free shops, and a 45% increase in operating profit in Central City," KB Securities explained.
KB Securities analyzed, "Total sales of department stores grew 22%, and duty-free shops also showed total sales of 9,214 billion won and operating profit of 22.9 billion won.".
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
