[Click eStock] "Kiwoom Securities: Retail Buying Still at an Early Stage... Target Price Maintained at 5.7 Million Won"

On March 4, Hana Securities maintained its target price for Kiwoom Securities at 5.7 million won and its investment rating at 'Buy', stating that retail investor buying is still only at an early stage.

Ko Yeonsu, a researcher at Hana Securities, said in a report released that day, "Retail investor demand for both domestic and overseas stocks is continuing, leading to a liquidity-driven market. This trend is similar to what was observed during the COVID-19 period."

Given the government's policy to push the KOSDAQ to the 3,000 level, the inflow of individual funds into the domestic stock market is expected to accelerate. If retail buying enters full swing, there is a strong possibility that Kiwoom Securities' market share will rebound. Even under a conservative assumption that its market share continues to decline, pure brokerage commission income is expected to increase by 53% year-on-year to reach 1 trillion won.

Ko further stated, "Growth in commission income from increased trading volume is expected to support the downside of earnings, and with a two-year shareholder return policy announcement scheduled for this month, expectations for a dividend increase remain valid. In addition, Kiwoom Securities' competitiveness in the ETF market-making business is expected to further strengthen through its retirement pension business in the second half of the year."

This content was produced with the assistance of AI translation services.