The stock price of Hwasung Enterprise, a domestic shoe manufacturer expected to return to profitability after four quarters, is showing strong performance.
![[Featured Stock] Hwaseung Enterprise 'Expected to Turn Profitable', Up 7.20%](https://cphoto.asiae.co.kr/listimglink/1/2019111408094480870_1573686583.jpg)
At 9:11 AM on the 17th, Hwasung Enterprise was trading at 8,190 KRW, up 550 KRW (7.20%) from the previous trading day.
On the same day, Hanuri, a researcher at Meritz Securities, said about Hwasung Enterprise, "With the recovery of orders from clients, sales have rebounded after four quarters, and the company is expected to return to profitability," raising the target price from 10,000 KRW to 11,000 KRW. The buy rating was also maintained.
However, Hanuri added, "The inventory burden of the main client, Adidas, remains. It would not be too late to confirm external growth and turnover increase through Adidas's first-quarter earnings to be announced on the 30th."
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