[Edaily Reporter Kwon Oh Seok ] NH INVESTMENT & SECURITIES announced on the 29th that it is maintaining its “Buy” rating on Cuckoo Holdings Co.,Ltd(192400)but lowering its target price from 40,000 won to 35,000 won.

Lee Seung-young, an analyst at NH INVESTMENT & SECURITIES, explained the reason for lowering the target price, stating, “This reflects the decline in the value of investment assets such as CUCKOO HOMESYS and a change in the valuation multiple benchmark for peer companies in the home appliance sector (8.7x as of August 2027).”
However, he added, “The company is achieving stable revenue growth through domestic product diversification and expansion of overseas sales,” noting that “considering its net cash position and stable cash flow, dividend growth is expected to continue over the medium to long term.”
He emphasized, “Considering the scale of shareholder returns, the current stock price is undervalued. We expect a dividend yield of 6.8% in 2026 and anticipate tax benefits related to reduced dividends,” adding, “With the implementation of mandatory treasury stock cancellation, we expect a portion of the 6.1% of treasury stock held to be canceled.”
Consolidated revenue and operating profit for the second quarter are projected at 224.9 billion won (+9.0% year-over-year) and 22.1 billion won (+8.6%), respectively. The analyst noted, “Domestic revenue is expected to reach 176.4 billion won (+8.8%). We expect sales of electric rice cookers to grow slightly year-over-year due to increased sales of high-end models,” he said, adding, “Sales of other products are expected to continue growing strongly, led by food waste disposers, microwaves, and induction cooktops.”
Overseas sales were estimated at 485억 won (+9.9%). He added, “In China, we anticipate sales growth through the expansion of our own promotional activities. Additionally, we expect high sales growth to continue, particularly in Vietnam.”