[Click eStock] "HiteJinro, Growth Expected in May... Stock Price Likely to Pause"

[Image source=Yonhap News]

[Asia Economy Reporter Hwang Yoon-joo] Hana Financial Investment maintained a 'Buy' rating and a target price of 48,000 KRW for Hite Jinro on the 16th, citing the view that the stock price in May may fall short of expectations.

Sim Eun-joo, a researcher at Hana Financial Investment, stated, "April will see slower volume growth due to first-quarter pre-demand," adding, "Therefore, I expect the stock price to take a breather in May."

Researcher Sim emphasized, "The trend in May is important." He evaluated, "With the lifting of the outdoor mask mandate, meaningful growth is expected," and added, "The buy perspective during price corrections remains valid."

Earlier, Hite Jinro announced that its first-quarter sales reached 583.7 billion KRW, up 9.1% year-on-year, and operating profit increased by 9.8% to 58.1 billion KRW.

Researcher Sim diagnosed, "The domestic beer regular market grew by more than 10% year-on-year in the first quarter," noting, "Terra increased by over 20%, Filite by 20%, while Hite declined."

The soju segment is also positive.

Researcher Sim analyzed, "The first-quarter soju regular market is estimated to have grown 8-10% year-on-year," adding, "Soju segment (domestic + export) sales increased by 9.6%, and operating profit recorded a 10.6% rise."

He continued, "Domestic soju sales increased by 12.1% year-on-year," and added, "Since March, reflecting price increases, the ASP (average selling price) has also improved."

This content was produced with the assistance of AI translation services.