[Edaily Reporter Lee Hye-ra] #Hyundai Department Store has been rising for four consecutive trading days.
According to MP Doctor on the 18th, as of 9:22 a.m., Hyundai Department Store shares are trading at 218,500 won, up 5.31% from the previous trading day. The stock has risen for four consecutive days and even hit a new 52-week high (221,500 won) during today’s trading session.
This is believed to be due to a series of positive reviews from the securities industry. Seven securities firms have raised or newly set target prices for Hyundai Department Store this month. Many analysts are forecasting improved second-quarter earnings.
Daishin Securities and IBK Securities both raised their target price for Hyundai Department Store to 250,000 won yesterday.
Yoo Jeong-hyun, an analyst at Daishin Securities, said, “We estimate that the company’s overall operating profit has entered a growth phase starting in the second quarter, driven by high growth and margin improvement in the department store division.” Nam Seong-hyun, an analyst at IBK Investment & Securities, said, “We expect second-quarter earnings to far exceed expectations,” adding, “The profit growth rate is projected to expand further in the second half of the year.”