CJ Freshway is expected to have a turnaround (Best Investment & Securities)

est Investment & Securities raised its investment opinion on CJ Freshway to 'Buy' and raised the target price to 32,000 won by 45%. 

"On the 5th, eight large companies and the FTC announced that the companies are opening cafeteria service in the marker," said the securities firm "More opportunities will open up to middle pack companies in food service."

The securities firm said, "CJ Freshway's profits was slashed by a very large margin last year and incurred substantial costs in the fourth quarter. As such, the company is expected to have a turnaround along with the expectation of the economic recovery."

The securities expected CJ Freshway's overall first-quarter earnings to reach 603.1 billion won in sales (+0.1% year-over-year) and 600 million won in operating profit.

Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com