Shinyoung Securities raised its target price for Cosmax from 180,000 won to 200,000 won, saying that its two-year strategic change is expected to lead to strong performance every quarter, maintaining its investment opinion "buy.".
"Cosmax has been carrying out strategies to strengthen profitability and secure online customers mainly in Korea, China and North America since 2019," said Shinyoung Securities on the 6th. Shinyoung Securities said,
"Cosmax is the No. 1 global manufacturer development and production (ODM) company and is growing together with small and medium-sized cosmetics brands that have good growth potential in Korea and China.".
Shinyoung Securities also added, "Considering the possibility of an upward revision of the consensus in the third quarter, Cosmax's stock price is considered to be significantly undervalued.".
Shinyoung Securities said, "As a result of these strategic changes, Cosmax recorded the highest quarterly operating profit in the second quarter, and this trend is expected to continue in the third quarter.".
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
