GS P&L shares jumped in early trading on the 4th, apparently on the back of brokerage assessments calling it a "buy-the-dip opportunity."
As of 9:43 a.m. on the day, GS P&L stock was trading at 42,400 won on the Korea Exchange, up 10.99% (4,200 won) from the previous session.
This appears to be because the brokerage community said GS P&L represents a buy-the-dip opportunity.
Researcher Lim Su-jin at Kiwoom Securities said, "The stock has been weak due to recent concentration in semiconductor supply and concerns about delayed normalization of the occupancy rate (OCC) at Westin Seoul Parnas," adding, "However, contrary to concerns, Westin is stabilizing quickly, as Grand did."
She also said GS P&L is significantly undervalued at 12.7 times price-earnings ratio (PER) based on the current share price, compared with the global peer average (PER 28.4 times).
Lim said, "We view this as a buy-the-dip opportunity and maintain a buy rating and a target price of 62,000 won."