NH Investment & Securities raised the target price for K-beauty tech company APR from 90,000 won to 115,000 won. This adjustment follows a strong performance in the first quarter, leading to a 23% upward revision of the annual operating profit estimate for this year, while maintaining the investment opinion as "buy."
On the 9th, NH Investment & Securities released a report on APR titled "A+" and revised the annual operating profit estimate for this year to 221 billion won, a 23% increase from the previous estimate. Additionally, the operating profit estimate for next year was raised to 274 billion won, reflecting a 26% upward revision from the previous estimate.
Jeong Ji-yoon, a researcher at NH Investment & Securities, said, "APR's revenue for the first quarter was 266 billion won, which is a 79% increase compared to the same period last year, and operating profit rose by 97%" and noted, "We have established a link between product capability, enhanced brand awareness, and increased global sales."
According to NH Investment & Securities, APR continued its rapid growth in the U.S. market, particularly through Amazon and TikTok Shop, and in Japan, it achieved strong sales during the Qoo10 Mega Sale event and secured placements in over 500 discount store locations of Don Quijote, achieving over 20 billion won in quarterly sales.
The researcher noted, "By adopting a channel approach that can flexibly respond to changing consumer preferences, we are becoming a "fast mover" in the global consumer market" and added, "The growth trend is continuing in the second quarter as well."