[Featured Stock] 'Carbonated Hit' Lotte Chilsung Hits Consecutive New Highs for Two Days

[Asia Economy Reporter Ji Yeon-jin] Lotte Chilsung is breaking its record high for two consecutive days based on strong performance.

On the morning of the 3rd, Lotte Chilsung's stock price rose 4.5% compared to the previous day, reaching 209,000 KRW during trading hours, marking a 52-week high. The closing price the day before also surged 9.89% to 200,000 KRW, setting a new record high, and the price reached a new peak again on this day.

Lotte Chilsung announced yesterday that its operating profit for the first quarter of this year was 59.7 billion KRW, an 84.9% increase compared to the same period last year. Sales recorded 626.3 billion KRW, up 16.2% year-on-year. Beverage business sales increased by 12.2% to 389.9 billion KRW, and operating profit rose 47.2% to 32.8 billion KRW. This is attributed to a significant increase in sales of the carbonated beverage Zero Carbonated.

For this reason, securities firms raised their target price for Lotte Chilsung on the same day. Eun-jung Park, a researcher at Yuanta Securities, said, "Lotte Chilsung grew 12% in the beverage market and 21% in the liquor market, expanding its market share," raising the target price from the previous 240,000 KRW to 250,000 KRW.