SK Securities maintained its investment opinion 'buy' and target stock price at 86,000 won, saying it expects earnings growth this year for Yuhan Corp.
SK Securities said, "The performance in the first quarter of this year improved significantly from the previous year due to the growth of improved new drugs in the ETC sector, strong sales of lactobacillus in the OTC sector, inflow of 4 billion won in technical fees for joint development of improved new drug Levamipid, and strong limited chemical performance due to sales of Recraza materials.".
Yuhan Corp. achieved 379 billion won in sales in the first quarter of this year, up 21 percent from a year earlier, and 13.9 billion won in operating profit, up 1195.1 percent from a year earlier.
Milestone inflow this year is expected to be around 65 billion won to 70 billion won. This is down from KRW 155 billion last year, but the performance improvement is positive due to external growth, reduced R&D and labor costs, and the surplus turnaround of Yuhan Chemical, which was suffering from a deficit.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
