[THE INVESTOR] Jeju Air has missed third-quarter earnings estimates, said KB Investment and Securities on Nov. 8, lowering the target price to 43,000 won (US$38.58) from 50,000 won.
Its earning guidance showed that its revenue rose 20.3 percent on-year to 266.6 billion won and operating profit by 5.9 percent to 40.4 billion, 13 percent below market expectations, said analyst Kang Seong-jin.
Its earnings were dented by the significant drop in unit price of international passenger rate, noted the analyst. Kang maintained a “buy” recommendation, though, saying that the low-cost carrier still maintains a speedy growth and lead over rivals.
By Hwang You-mee (glamazon@heraldcorp.com)