Kiwoom Securities analyzed that Shinsegae is showing the most noticeable improvement in performance in the face of the recovery of the department store industry. The target price was raised from 350,000 won to 400,000 won and the investment opinion was maintained at 'Buy'.
The securities firm explained, "Shinsegae's strength, which has a high proportion of luxury goods sales, is being highlighted as demand for luxury goods is increasing significantly due to strong retaliatory consumer sentiment.".
"There has been an improvement in duty-free performance thanks to the reduction in rent at Incheon International Airport," the securities firm said. "Since Shinsegae has duty-free business rights at Incheon International Airport Terminals 1 and 2, its performance improvement will be the strongest when overseas trips resume."
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
