[Featured Stock] CJ Faces Investor Sentiment Decline Due to 2Q Earnings Slump and CGV Capital Increase... 52-Week Low

The stock price of CJ hit a 52-week low on the 7th. It is interpreted that the stock price was pulled down as the securities industry forecasted poor second-quarter earnings for CJ.

As of 9:44 a.m. on the day, CJ was trading at 60,800 KRW on the Korea Exchange, down 2.09% from the previous trading day.

With this, CJ set a new 52-week low.

On the same day, NH Investment & Securities lowered CJ's target price from 95,000 KRW to 76,000 KRW, citing weakened investor sentiment due to poor earnings and participation in CJ CGV's capital increase, and maintained a hold rating.

Kim Dong-yang, a researcher at NH Investment & Securities, analyzed, "CJ's second-quarter sales are estimated at 10.6035 trillion KRW, up 3% year-on-year, and operating profit is estimated at 493 billion KRW, down 28%. This is below market expectations."

He added, "Investor sentiment deteriorated due to the poor performance of CJ CheilJedang, consecutive paid-in capital increases of CJ CGV, and the in-kind contribution of CJ OliveNetworks."

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