Hana Financial Investment presented a target price of 200,000 won for Amorepacific Corporation and maintained its investment opinion of 'buy.' This is based on the assessment that the second-quarter performance will meet market expectations.
On the 23rd, Hana Financial Investment projected that Amorepacific Corporation's consolidated sales in the second quarter of this year would reach 990 billion won, a 9% increase from the same period last year.
In addition, the operating profit is expected to record 72.4 billion won, which is a 1,645% increase compared to the same period last year, in line with the market forecast of 77.1 billion won.
Park Eun-jeong, a researcher at Hana Financial Investment, said, 'Global expansion centered on Laneige continues,' also noting that 'the profitability trend of one Chinese subsidiary is a distinctive feature.'
In fact, Hana Financial Investment anticipates that Amorepacific Corporation's overseas sales in the second quarter will reach 440 billion won, a 15% increase compared to the same period last year. The operating profit is estimated to be 39.4 billion won.
Researcher Park noted, 'Amorepacific Corporation is expected to reach an important turning point this year,' adding that 'the overseas profits of Amorepacific Corporation are likely to exceed domestic profits for the first time.'
Meanwhile, Hana Financial Investment estimated that Amorepacific Corporation's consolidated sales this year would increase by 11% to 4.3 trillion won. The operating profit is projected to be around 420 billion won.