April 26, 2024

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[THE INVESTOR] CJ CheilJedang is reshuffling its business while stabilizing internally and its earnings will improve next year, said Mirae Asset Daewoo on April 13, maintaining a “buy” recommendation and 460,000 won (US$430.03) target price. 

It is cutting back its underperforming businesses and carrying out M&A’s prudently while promoting profitability and cost-effectiveness. These efforts will lead to better earnings in the next few years, said analyst Baek Un-mok.

Revenue in the first quarter will rise 11.8 percent and operating profit 9.7 percent from the same period last year and although not satisfactory now it is set to improve drastically, explained the analyst.

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