[THE INVESTOR] Lotte Food’s second-quarter operating profit will be down by 10 percent, said KB Investment and Securities on July 20, lowering the target price to 750,000 won (US$665.78) from 800,000 won.
Its revenue will rise 4.8 percent on-year to 473.7 billion won and operating profit will fall 9.8 percent to 21.8 billion won, below market consensus, said analyst Park Ae-ran.
In the latter half, however, earnings will improve as its Pyeongtaek factory has started operations and its food business expands, said the analyst maintaining a “buy” recommendation.
By Hwang You-mee (glamazon@heraldcorp.com)