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The Korea Herald
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THE INVESTOR
March 29, 2024

Stocks & Bonds

[EQUITIES] ‘CJ Korea Express to miss market expectations’

  • PUBLISHED :March 27, 2017 - 15:53
  • UPDATED :March 27, 2017 - 15:53
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[THE INVESTORCJ Korea Express’ first-quarter operating profit will miss market expectations but its stock price will remain steady as it has already fallen excessively, said KTB Investment and Securities on March 27.

   



Its operating profit will come in at 54.9 billion won (US$49.28 million), as the slow manufacturing industry dragged down the rate of profit and slowed down the growth in quantity of transported goods, said analyst Shin Ji-yun.

Its stock price has been 23.8 percent lower than the market yield for the last six months, and could remain unchanged, forecast the analyst. 

There has been concerns that E-mart and Coupang could internalize their logistics businesses but they do not seem to be an actual threat, according to Shin. “A number of Chinese delivery companies have gone public last year, burdening the stock prices, but the global rise in the value of logistics companies could be favorable for CJ Korea Express at this point.”
The securities firm maintained a “buy” recommendation and 200,000-won target price. 

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

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