[Featured Stock] Clio Weakens on Q3 Earnings Slump Outlook... New Low

Clio showed weakness due to the poor performance forecast for the third quarter of this year, recording a 52-week low during the trading session.

As of 9:10 a.m. on the 22nd, Clio is trading at 24,650 won, down 1,100 won (4.27%) from the previous day. During the session, it fell to 24,150 won, setting a new 52-week low.

On the same day, Hana Securities lowered the target price for Clio from 47,000 won to 35,000 won, citing that the third-quarter performance is expected to fall short of the consensus (average securities firms' forecast). The investment rating was maintained as 'Buy.' Eunjeong Park, a researcher at Hana Securities, explained, "Clio's third-quarter performance is expected to show consolidated sales of 89.3 billion won, a 5% increase compared to the same period last year, and an operating profit of 8.4 billion won, a 20% decrease, falling short of the consensus (operating profit of 12.3 billion won). Overall sales fell short of expectations, and the decline in profitability was further impacted by increased marketing expenses."

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