[Featured Stock] 'The Power of K-Food' Samyang Foods Up 4.99%

The stock price of Samyang Foods soared on the strength of 'K-Food'. As of 11:23 AM on the 27th, Samyang Foods was trading at 526,000 KRW, up 25,000 KRW (4.99%) from the previous trading day.

[Image source=Yonhap News]

On the same day, Jang Ji-hye, a researcher at DS Investment & Securities, maintained a 'Buy' rating on Samyang Foods and raised the target price to 600,000 KRW. She said, "Samyang Foods is expected to achieve consolidated sales of 1.5 trillion KRW this year, a 28% increase from the previous year, and operating profit of 295.1 billion KRW, doubling compared to last year. The company is actively responding to growing global demand in the US, China, Southeast Asia, and Europe."

She added, "The first-quarter results proved that overseas sales growth led to an operating leverage effect. The annual overseas sales ratio is expected to rise to 73%, up from 68% last year," and stated, "By expanding the number of SKUs of Buldak Bokkeum Myun, the company is growing by satisfying the diverse tastes of various ethnic groups."