[THE INVESTOR] F&F
will maintain a steady upturn at home next year while seeking new momentum by expanding overseas, said Shinhan Investment on Nov. 22, maintaining a “buy” recommendation and raising the target price to 58,000 won (US$53.05) from 53,000 won.
Its revenue in the fourth quarter will hike 28.6 percent on-year to 219.3 billion won and operating profit by 34.7 percent to 39.8 billion won, estimated analyst Kim Gyu-ri. Revenue from its Discovery range has leaped 36 percent this year and the apparel company’s earnings next year will rise 20 percent, according to the analyst.
Adding F&F Hong Kong to an affiliate in the third quarter and officially launching MLB line in Hong Kong where a store will open in January also are favorable, said Kim.
Revenue from Hong Kong will come in at 25.5 billion won next year and 57.6 billion won in 2019, accounting for 4-8 percent of total revenue, forecast the analyst.
By Hwang You-mee (email@example.com