Daishin Securities has proposed a new target stock price of 22,000 won and an investment opinion "buy" for JVM, saying its earnings growth will be visible in the second half of the year.
Daishin Securities analyzed, "We expect an increase in domestic demand for Intifarm after COVID-19.".
Daishin Securities said, "We expect robust domestic and European earnings trends and a recovery in the U.S. as exports of KRW 2 billion, which were delayed due to shipping issues in the third quarter, are expected to be recognized.".
Daishin Securities also predicted, "Due to seasonal effects in the fourth quarter, we expect 68.1 billion won in consolidated sales in the second half of this year, up 33.7 percent from the first half and 20.2 percent year-on-year.".
JVM has the largest share in the ATDPS (electronic drug classification and packaging system) market in Korea. Analysts say that the supply rate of existing medium and large hospitals and pharmacies is more than 80 percent, mostly due to demand for replacement and supply of new small pharmacies.
Daishin Securities said, "After COVID-19, sales of Intipalm, a high-cost management automation device, are expected to expand.". This year's annual sales are estimated at 119 billion won and operating profit at 17.1 billion won, up 3.1 percent and 8.8 percent, respectively, from a year earlier.
Reporter Lee Ji-sun stockmk2020@gmail.com
