April 25, 2024

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[THE INVESTOR] Emerson Pacific’s hospitality businesses seem to be driving the company’s growth, with the company associating the Ananti brand with a diverse range of platforms, nurturing it into a chain and creating a synergy effect, said Samsung Securities on Feb. 21.

The securities firm suggested a “buy” recommendation and 42,000 won (US$36.67) target price, saying that its mid- to long-term goal has been materialized. 

Its Ananti Penthouse Seoul has been posting steady growth in revenue since it opened in March and entered a normal cycle in the fourth quarter, analyst Yun Seok-mo said. It also established an asset management company last year that will specialize in real estate with the first project being the acquisition of Metro Tower near Seoul Station, which will be sold when the price rises, according to the analyst.

Considering the current state of its hotels and resorts, and the pipeline of new businesses, its stock price is slightly undervalued, added Yun.

By Hwang You-mee (glamazon@heraldcorp.com)