Korean Air expects 3Q operating profit surprise... Increased investment rating and target price (KB Securities)
Korean Air expects 3Q operating profit surprise... Increased investment rating and target price (KB Securities)
  • 이동훈 기자
  • 승인 2021.09.17 15:27
  • 최종수정 2021.09.17 08:13
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인천공항 대한항공 화물 터미널.(사진=대한항공 제공)
인천공항 대한항공 화물 터미널.(사진=대한항공 제공)

KB Securities raised its investment opinion from 'HOLD' to 'BUY' on the 17th, saying that operating profit in the third quarter of this year will be a surprise that exceeds 142.5% of the market consensus. The target price also rose 22.6% to KRW 38,000.

"Raising the operating profit forecast for this year and next year by 147.9% and 46.8%, respectively, reflecting the higher-than-expected air freight industry, is the main reason for the adjustment of target stock prices," KB Securities said.

"Korean Air's third-quarter operating profit is 347.4 billion won, which is expected to exceed market consensus and KB Securities' previous forecasts of 204.1 billion won and 273.2 billion won, respectively," KB Securities said.

"The air freight rate is estimated to reach 589.5 won, which is 24.1% higher than the previous estimate of 475 won.". KB Securities added, "Profit and loss in the passenger sector seems to have begun to improve, which is expected to continue until next year.".

Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com


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