Hana Financial Investment said the new industry is cruising in the third quarter of Shinsegae Food, adding that it will maintain its investment opinion "buy" and target price of 140,000 won.
Hana Financial Investment made the announcement in the 'Third Quarter Earnings Preview' on Shinsegae Food on the 20th. As the closing price of Shinsegae Food was 98,000 won on the 17th, it is estimated that there is room for a 43% rise in stock prices in the future.
Over the past year, the highest price has been KRW 109,000 and the lowest price has been KRW 57,700, but the stock price is currently in sight. Shinsegae Food's stock price rose 27.9% over the past six months and 79.8% over the past year, Hana Financial Investment said.
Hana Financial Investment estimated Shinsegae Food's consolidated sales and operating profit for the third quarter at 342.9 billion won and 7 billion won, respectively. Sales are up 6.8% from the same period last year, but operating profit is estimated to increase 55.9%.
Hana Financial Investment estimated that the third quarter will have fewer business days compared to the second quarter, so its operating profit will fall slightly compared to the previous quarter, but its performance will continue to improve significantly compared to the same period last year.
As of August, the number of "No Brand Burger" franchises was found to be close to 100 and expected to exceed 100 by the end of the year.
Manufacturing sales are also growing together due to the "No Brand Burger" franchise, and especially sales for "Starbucks" are still solid, predicting double-digit sales growth in the third quarter compared to the same period last year.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
