Golfzon, Business restriction is expected to be lifted. (SK Securities)

SK Securities raised its target price for the golf zon from 100,000 won to 120,000 won, while it maintained its investment opinion of 'Buy'.

The securities said on the 5th that the golf zon has been in good condition since February and is expected to perform well in the first quarter.

The upside factors that can be expected in the golf zon are the lifting of operating restrictions, the reduction of operating losses at GDR's direct branches, and the growth of overseas businesses.

Golf Zone opened its first Golf Zon Park in Beijing, China, in February. It already operates 12 direct branches in Vietnam.

"Golf Zon's overseas subsidiaries posted sales of 24 billion won and operating profit of 1.1 billion won last year. Their contribution to annual sales is stll low, but they are expected to be a growth engine, especially if it succeeds in China," the securities said.

Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com