[Click e-Stock] "Green Cross Enters Structural Turnaround... Investment Rating Raised to 'Buy'"

On October 18, Kiwoom Securities raised its investment rating on Green Cross to 'Buy' and increased its target price to 210,000 won, citing a structural turnaround driven by new drug sales.

Researcher Huh Hyemin stated, "Third-quarter results are expected to slightly fall short of market expectations, as a portion of domestic influenza vaccine shipments has been delayed to the fourth quarter." However, she added, "At this point, the successful entry of Aliglo into the U.S. market is more important than short-term earnings, so the impact on the stock price is likely to be limited."

She further explained, "On the contrary, with Aliglo being included in major insurance formularies, sales are expected to reach approximately 15 billion won within just two months of launch, raising the likelihood that U.S. sales will reach 60 billion won this year."

Aliglo is expected to drive growth this year and lead to overall improvement in company performance. In fact, consolidated sales this year are projected to reach 1.7341 trillion won, up 7% year-on-year, while operating profit is expected to increase by 60% to 55.1 billion won.

Huh added, "We finally expect to break free from the chronic fourth-quarter operating losses that have persisted since 2018. For 2025, sales are projected at 1.8754 trillion won, up 8% from the previous year, and operating profit is expected to rise by 50% to 82.9 billion won, indicating strong growth will continue for the time being."