Hana Financial Investment maintained its target stock price of 500,000 won and its investment opinion of "buy", saying that Nongshim's earnings improvement is becoming visible.
"Nongshim's third-quarter consolidated sales and operating profit demonstrated 6,730 billion won and 29.1 billion won, respectively, exceeding market expectations.
Despite the rebound in the previous year, its performance is becoming visible as the effect of the domestic price hike has begun to be gradually reflected," Hana Financial Investment said. "As interest in global "K-Food" is growing, the popularity of Neoguri and Jjapaghetti is also rising in addition to Shin Ramyun,"
Hana Financial Investment said. "Amid a significant increase in domestic selling prices, leverage is expected due to the base effect of overseas subsidiaries and top-line growth.".
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
