[Alpha Biz= Reporter Kim Sangjin] Kiwoom Securities raised its target price of Samyang Food to 830,000 won on the 14th, saying, "We expect a favorable factor due to the surge in exports of Buldak stir-fried noodles to the U.S. and Europe."
Kiwoom Securities said, "The US and Europe have higher prices than other regions, so the average unit price (ASP) is high and the demand for low-priced foods such as ramen is good for increasing."
Kiwoom Securities said, "We expect the company's ASP to rise further due to increased sales in the U.S. and Europe and increased bargaining power due to increased distribution channels."
Kiwoom Securities predicted that thanks to exports to the U.S. and Europe, China's seasonal fluctuations in demand will also ease the previous phenomenon that affects the company's performance.
Kiwoom Securities raised its second-quarter operating profit forecast for Samyang Foods to KRW 81.2 billion, up 84% from a year earlier.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
