[Click eStock] "Nongshim, Global Expansion Potential Still High... Target Price Maintained"

Hana Securities evaluated Nongshim on the 13th, stating that its global expansion potential remains high. They maintained a 'Buy' investment rating and a target price of 540,000 KRW.

Sim Eun-joo, a researcher at Hana Securities, predicted growth in both domestic and international markets in the fourth-quarter earnings. She said, "Domestic exports are still judged to be maintaining a high growth trend. It is expected that sales growth of around 30% year-on-year can be achieved in the fourth quarter." She added, "The North American subsidiary's momentum is also changing from the fourth quarter. Since October, the relocation of Walmart shelves and the expansion of coverage to Latin America have become visible, enabling double-digit sales growth compared to the previous year."

Researcher Sim forecasted that Nongshim's overseas sales ratio will expand from 40% this year to 44% next year. She stated, "While domestic exports remain solid due to increased demand in Southeast Asia and Europe, the North American subsidiary is expected to see significant growth from the fourth quarter through next year." She also anticipated, "Due to the Chinese government's recent active intention to stimulate domestic demand, the Chinese subsidiary is expected to gradually recover."

She continued, "The current stock price is trading near a 12-month forward price-to-earnings ratio (PER) of 11 times. From the fourth quarter, overseas subsidiaries' top-line growth is expected to accelerate. The global expansion potential remains high."

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