[Special Stock] CJ Daehan Tongun, Stock Price Drops Over 5% Due to Strike Impact

[Image source=Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] CJ Logistics' stock price is falling due to the union's occupation of the headquarters and the impact of the strike.

As of 10:23 AM on the 14th, CJ Logistics' stock price on the KOSPI market is trading at 117,500 KRW, down 5.62%.

The union, which is on strike, has been occupying the headquarters building without permission for four consecutive days.

Accordingly, the securities industry is also lowering target prices for CJ Logistics one after another. Daishin Securities lowered CJ Logistics' target price by 14.2% to 180,000 KRW. Mirae Asset Securities lowered it from 190,000 KRW to 160,000 KRW, and Samsung Securities lowered it from 190,000 KRW to 140,000 KRW.

Kim Young-ho, a researcher at Samsung Securities, said, "The prolonged strike by the delivery union is an unavoidable situation," adding, "Since the problem is not easily resolved in the short term, and reflecting the disappointing earnings and the downward revision of the 2022 delivery volume estimates, we are lowering the target price from 190,000 KRW to 140,000 KRW."

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