April 25, 2024

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[THE INVESTOR] Hugel will be affected by the heightened competition, said KB Investment and Securities on Oct. 11, lowering the target price to 670,000 won (US$590.88) from 700,000 won.

Its botulinum toxin exports remain on an upturn but as its rival has increased domestic shipment since July, the price might slide, and fillers will also slow down, said analyst Seo Geun-heui.

Its third-quarter revenue and operating profit, however, will satisfy market expectations, at 47.6 billion won and 27.5 billion won, up 45.1 percent and 53.5 percent on-year, respectively, estimated the analyst. 

The stiff competition for both products might dent earnings in the short term, but Hugel’s botulinum toxin exports will manage to propel the company’s growth, forecast Seo maintaining a “buy” recommendation. 

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