[Featured Stock] Samyang Foods Expected to See Operating Profit Increase Benefiting from Exchange Rate Gains

As the dollar-won exchange rate touched 1,400 during the day yesterday, Samyang Foods, which has a high export ratio, is showing strength on the back of strong earnings prospects.

As of 9:31 a.m. on the 17th, Samyang Foods is trading at 265,500 won, up 7.93% from the previous close. The trading volume is 44,177 shares, with a trading value of approximately 11.5 billion won. During the day, Samyang Foods surged to 647,000 won, setting a new 52-week high.

IBK Investment & Securities raised the target price for Samyang Foods from 240,000 won to 290,000 won in a report released yesterday.

They estimated consolidated sales and operating profit for the first quarter to increase by 27% and 80.4% year-on-year, reaching 311.9 billion won and 43 billion won, respectively.

Researcher Kim Taehyun stated, "Although sales may slightly miss expectations due to sluggish domestic sales, operating profit is expected to significantly exceed estimates due to lower input costs for wheat, starch, palm oil, and the rise in the won-dollar exchange rate. The strong growth in exports continues, and there is valid anticipation of additional demand expansion due to product diversification."