April 24, 2024

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[THE INVESTOR] Handsome’s earnings will take another significant leap in the second quarter following its acquisition of SK Networks’ fashion division, said Shinhan Investment, maintaining a “buy” recommendation and raising the target price to 43,000 won (US$29.75) from 40,000 won.

Its operating profit in the period will surge 69.5 percent on-year to 13.7 billion won, and revenue will more than double to 299.9 billion won, said analyst Park Heui-jin.

Earnings for the whole year will rise and growth momentum is valid, noted the analyst.

Its growth strategy has shifted to investment from developing its own brands, and prospects are bright, added Park. 

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