April 24, 2024

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[THE INVESTOR]  Cheil Worldwide’s second-quarter earnings will be in line with analyst estimates, said Korea Investment and Securities on June 29, maintaining a “buy” recommendation and 23,000 won (US$20.17) target price.

Its revenue will climb 1.6 percent on-year to 833.2 billion won while operating profit will slip 1.7 percent to 251.7 billion won, said analyst Choi Min-ha. 

Marketing campaigns for its affiliate Samsung Electronics’ Galaxy S8 bolstered its earnings but failed to offset the sluggish market both in Korea and China since the second half last year, said the analyst. 

Although uncertainties in the domestic market have somewhat cleared after the presidential election, the advertising company will begin to turn around in full force from the latter half, forecast Choi. 

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