April 18, 2024
Stocks & Bonds
[EQUITIES] ‘Innocean to pick up in H2’
[THE INVESTOR] Innocean Worldwide will show visible signs of recovery in the latter half of the year, said Yuanta Securities on July 28, maintaining a “buy” recommendation and raising the target price to 82,000 won (US$73.15).
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Its revenue remained solid despite the drastic downfall of major clients in the car industry, said analyst Park Seong-ho. Gross margin from affiliates declined sharply but the advertising industry in Korea is recovering palpably, said the analyst, adding that the advertising company will gain from Hyundai Motor’s launch of flagship model G70 in the second half.
By Hwang You-mee (glamazon@heraldcorp.com)
