[Featured Stock] Lotte Shopping Jumps Over 7% on Earnings Growth Expectations

Lotte Shopping is on an upward trend on expectations of strong earnings driven by an increase in foreign tourists.

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As of 9:20 a.m. on the 10th, Lotte Shopping was trading at 105,900 won, up 7.19% (7,100 won) from the previous trading day.

Hanwha Investment & Securities raised its target price for Lotte Shopping to 150,000 won the previous day. Lotte Shopping's operating profit in the fourth quarter of last year was 227.7 billion won, up 54.7% year-on-year, in line with market expectations.

Lee Jinhyup, an analyst at Hanwha Investment & Securities, said, "The domestic foreign inbound momentum is strengthening, and department stores are particularly benefiting from this trend," adding, "The commercial districts to watch this year are Myeong-dong and the Busan-Ulsan-Gyeongnam region, and since the company has large exposure in these areas, its sales growth could show relatively stronger momentum."

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