[Featured Stock] Lotte Wellfood Rises on Seasonal and Indian Market Optimism... New High
Lotte Wellfood recorded a 52-week high during the session as it rose for two consecutive days amid expectations of peak season and growth in the Indian market.
As of 9:13 a.m. on the 4th, Lotte Wellfood was trading at 156,000 KRW, up 8,400 KRW (5.69%) from the previous day. During the session, it rose to 158,300 KRW, setting a new 52-week high.
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The expectation of the peak season appears to be driving the stock price increase. On the same day, Hanwha Investment & Securities raised the target price for Lotte Wellfood from 190,000 KRW to 220,000 KRW, reflecting upward revisions in earnings estimates. Han Yujeong, a researcher at Hanwha Investment & Securities, stated, "Increased production efficiency and the effects of marketing activities invested so far will lead the overall profit improvement this peak season. The new ice cream factory in Pune, India, will be completed in June and will begin full-scale production activities from August. With the operation of the Pune new factory, not only will regional coverage expand, but the launch of new brands will also accelerate."
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