[Infostock Daily= Reporter An Hoe Hyun] SK Securities said on the 26th that despite unfavorable factors such as the suspension of the redemption of funds by Optimus Asset Management, NH Investment & Securities is showing high growth based on the brokerage boom and its competitiveness in the investment banking(IB) sector, and adjusted its investment opinion from 'Neutral' to 'Buy' and raised its target stock price by 40% from 10,000 won to 14,000 won.
"NH Investment & Securities was expected to perform poorly this year due to Optimus losses, but profits will be positive due to increased operating profits in most business sectors, including brokerage," the company explained.
"Even if all Optimus-related costs in the fourth quarter are reflected, the annual net profit of controlling shareholders will increase 10% year-on-year to 521 billion won," the company predicted, adding, "Considering the trend of asset management, increasing IB fees and expanding interest income, next year's net profit will increase by 11% to 581 billion won."
Reporter An Hoe Hyun ahh@infostock.co.kr
