[THE INVESTOR] Hyundai Department Store’s earnings will improve in the fourth quarter, said Eugene Investment and Securities on Dec. 5, maintaining a “buy” recommendation and raising the target price to 130,000 won (US$119.95) from 120,000 won.
Unlike the previous two quarters, its profits will improve. Revenue will rise 9.1 percent on-year to 1.6 trillion won and operating profit by 3.8 percent to 125.6 billion won, estimated analyst Joo Yeong-hun.
In addition to the low baseline in the fourth quarter last year which, the early cold weather has boosted apparel sales, explained the analyst.
Its current stock price at 8.4 times its price-earnings ratio is the lowest in the industry but will clearly rebound as Chinese tourists will return following the easing of diplomatic tensions over THAAD issue, noted Joo.
By Hwang You-mee (email@example.com)