April 25, 2024
Stocks & Bonds
[EQUITIES] ‘Exports to China will boost Binggrae’s revenue’
[THE INVESTOR] Amid the boom of processed milk industry this year, the fixed price system of frozen desserts and expansion of premium range will boost Binggrae’s earnings, said IBK Securities on Jan. 17.
The securities firm maintained a “buy” recommendation and 73,000 won (US$61.64) target price.
“Exports of its banana-flavored milk, in particular, increased 27 percent on-year to 14 billion won in 2016,” estimated analyst Kim Tae-hyeon. “This year it will break the 15 billion won record set in 2013, through expansion of distribution network and channels.”
Binggrae’s revenue came to 160.5 billion won, up 2.3 percent on-year, in the fourth quarter last year and its operating loss shrank to 1.9 billion won, according to the analyst.
By Hwang You-mee (glamazon@heraldcorp.com)
The securities firm maintained a “buy” recommendation and 73,000 won (US$61.64) target price.
“Exports of its banana-flavored milk, in particular, increased 27 percent on-year to 14 billion won in 2016,” estimated analyst Kim Tae-hyeon. “This year it will break the 15 billion won record set in 2013, through expansion of distribution network and channels.”
Binggrae’s revenue came to 160.5 billion won, up 2.3 percent on-year, in the fourth quarter last year and its operating loss shrank to 1.9 billion won, according to the analyst.
By Hwang You-mee (glamazon@heraldcorp.com)
