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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] BNK Investment Securities announced on the 20th that it has raised its target price for CJ from 170,000 KRW to 175,000 KRW, maintaining a "Buy" rating. The adjustment is based on the positive performance of CJ's unlisted subsidiaries, CJ Olive Young and CJ Foodville.
According to BNK Investment Securities, CJ Olive Young's revenue for Q2 and Q4 has increased by 24.8% year-over-year to 1.2079 trillion KRW, and by 11.9% compared to the previous quarter. Net profit also rose by 13.3% year-over-year and 17.9% compared to the previous quarter, demonstrating strong performance.
The firm expects CJ Olive Young to continue its growth through expanded online marketing, enhanced global malls, and increased exports of private label (PB) products.
CJ Foodville is also anticipated to maintain its growth. The number of overseas stores has increased by 42 to 245 compared to the same period last year, with plans to raise the number of North American franchises from 108 at the end of last year to 163 this year. BNK Investment Securities forecasts that the US-based global bakery business will drive this growth.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
