Celltrion, which succeeded in diversifying its profitability, is expected to continue to improve its performance by taking advantage of the European market's approval to sell new drugs, while its stock price will rise further.
In the second half of the year, the European market is expected to improve its performance through the sale of new drugs.
SK Securities presented its investment opinion on Celltrion as 'buy' and its target stock price as 370,000 won.
SK Securities noted that Celltrion collected positive results in the first quarter through various products unlike in the past. It explains that it will have a positive impact on future stock prices as it has succeeded in improving long-term profitability.
"Celltrion collected 457 billion won in sales and 207.7 billion won in operating profit in the first quarter, up 22.6 percent and 72.7 percent, respectively, from a year earlier," SK Securities reported.
SK Securities predicted that Celltrion's sales growth will remain in the second half of the year. In addition to receiving permission to sell new drugs in the European market, it is expected that the sale of COVID-19 new drugs will be approved within this year.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com