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The Korea Herald
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THE INVESTOR
March 29, 2024

Stocks & Bonds

[EQUITIES] ‘Nongshim begins recovery in Korea, China’

  • PUBLISHED :March 29, 2018 - 11:09
  • UPDATED :March 29, 2018 - 11:09
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[THE INVESTOR] Nongshim has entered a recovery phase in the domestic market and China, said NH Investment and Securities on March 29, maintaining a “buy” recommendation and 405,000 won (US$379.60) target price. 




Its first-quarter earnings will be in line with market consensus with 571.8 billion won revenue and 34 billion won operating profit, estimated analyst Han Guk-heui.

As it expands its share in the instant noodle market, revenue will increase 4.5 percent on-year, she noted.

Sales in China will pick up and Nongshim will show strong growth in the US on the back of expanding distribution channels, according to Han. 

Its revenue this year will rise 3.8 percent to 2.29 trillion won and operating profit by 25.6 percent to 121.1 billion won, said the analyst, adding that now is a good time to purchase its stocks which are trading at 16 times its price-earnings ratio and one time price-to-book ratio. 

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

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