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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] SEOUL, October 30, 2025 — Kiwoom Securities maintained its “Buy” rating and ₩1.85 million target price on Samyang Foods Co., Ltd. (KRX: 003230), saying that the recent share price correction was driven by short-term sentiment rather than fundamental weakness.
Analyst Park Sang-jun noted that the stock has fallen more than 20% from its recent peak amid downward revisions in third-quarter earnings estimates and weak October ramen exports. However, he emphasized that global demand for the company’s flagship “Buldak Ramen” brand remains strong, and export figures are likely to rebound starting in November.
“Exports to China have already exceeded last year’s full-year total, and shipments to the U.S. have also grown significantly despite tariff concerns,” Park said. “The temporary slowdown in Europe stems from distribution adjustments, which are expected to normalize by early next year.”
Park added that third- and fourth-quarter operating profits could soften due to higher tariff and marketing costs, but profitability should improve in the first quarter of 2026 as exports recover.
He further highlighted that additional production capacity expansion is scheduled for early 2027, and that the recent strength of the dollar, euro, and yuan may provide upside potential for the company’s average selling price (ASP) going forward.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
