[Featured Stock] Nongshim with 'Record High Operating Profit' Gains 3% in Early Trading
Nongshim is showing strong performance in the early trading session as the possibility of achieving the highest-ever operating profit this year has been raised.
As of 9:20 AM on the 17th, Nongshim is trading at 361,500 KRW, up 3.43% compared to the previous trading day. It rose to 364,000 KRW in the early session.
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On this day, Shinhan Investment Corp. forecasted that Nongshim would achieve the highest operating profit ever this year based on the competitiveness of its ramen. Accordingly, they maintained a 'Buy' investment rating and raised the target price to 450,000 KRW. Researcher Jo Sang-hoon stated, "Nongshim's P and Q are improving simultaneously both domestically and internationally, and cost burdens are gradually easing, leading us to revise upward our earnings estimates," adding, "High growth overseas is expected to continue this year as well."
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