DS Investment & Securities raised its target price of Coway by 7.5% from 93,000 won to 100,000 won on the 23rd, saying that it is also expected to show stable performance following its earnings surprise in the first quarter and that it is expected to show solid growth in U.S. markets, including Malaysia. The investment opinion remained 'buy'.
"Coway's expected performance in the second quarter of this year is expected to increase 12.4% and 22.6% compared to the same period last year, with sales of 905.5 billion won and operating profit of 170.3 billion won, respectively, to meet the market consensus," DS Investment & Securities said.
"Based on the current trend, the net increase in domestic rental accounts in the second quarter of this year is expected to increase slightly from the first quarter, recovering to an average level.".
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
