[Click eStock] "Kiwoom Securities, Stock Price Rise Expected... Target Price Up"

Profit Growth Outlook for This Year

[Image source=Yonhap News]

Shinhan Investment Corp. analyzed on the 3rd that Kiwoom Securities is expected to see a gradual stock price increase this year, considering profit growth and shareholder return policies. Accordingly, they maintained a 'Buy' rating and raised the target price to 145,000 KRW.

Researcher Lim Heeyeon of Shinhan Investment Corp. stated, "The company recorded the third highest quarterly sales ever in Q1 this year," and recommended "actively buying during stock price corrections."

Operating profit in Q1 was 337.7 billion KRW, turning positive compared to the previous quarter. Net income attributable to controlling interests also turned positive, reaching 245.5 billion KRW.

Researcher Lim explained, "This year, we expect a return on equity (ROE) of 13% and a price-to-book ratio (PBR) of 0.6 times," adding, "Reflecting multiple adjustments, we raised the target price from 140,000 KRW to 145,000 KRW."