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The Korea Herald
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THE INVESTOR
March 29, 2024

Stocks & Bonds

[EQUITIES] ‘CJ CheilJedang to improve in Q3’

  • PUBLISHED :August 07, 2017 - 11:20
  • UPDATED :August 07, 2017 - 14:41
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[THE INVESTOR] CJ CheilJedang has slowed down in the second quarter but will pick up, said Meritz Securities on Aug. 7, maintaining a “buy” recommendation and 510,000 won (US$452.33) target price.

Its earnings missed market consensus as foodstuff and animal feed sectors struggled and Chinese operations suffered from the THAAD aftermath, said analyst Kim Jeong-uk.

In the third quarter, however, the company will grow at least 15 percent as home meal replacement unit grows and key products expand market share, said the analyst adding that Chuseok holiday will help lift the bottom line. 

Foodstuff sector will rise as well and animal feeds will begin to improve after having hit bottom in the second quarter, according to Kim.

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

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