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THE INVESTOR
April 04, 2020
Big Reunion

Stocks & Bonds

[EQUITIES] ‘Nongshim slows down in Q3’

  • PUBLISHED :September 28, 2018 - 10:47
  • UPDATED :September 28, 2018 - 10:47
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[THE INVESTOR] Nongshim’s earnings in the third quarter will be slow, said KB Investment and Securities on Sept. 28 lowering the target price to 330,000 won (US$296.66) from 350,000 won.




Its earnings in the period will remain sluggish as revenue will slip 0.5 percent on-year to 568.9 billion won and operating profit will fall 15.8 percent to 26.4 billion won. However, it will enter a high season in the fourth quarter and is likely to rally until next year. It is carrying out renewal of flagship products without burdening itself with major costs. The firm is also expanding its distribution channels and its US and Chinese operations will continue to grow, said analyst Park Ae-ran.

Although the domestic business environment for instant noodles is not friendly, it is unlikely that competition will heighten further, and its stock price will be bolstered, said the analyst maintaining a “buy” recommendation. 

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

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