Amorepacific shares are surging on the morning of the 9th. It appears to be due to the securities industry raising Amorepacific's target price.
As of 9:47 a.m. on the same day, Amorepacific stock was trading on the Korea Exchange at 159,500 won, up 16.17% (22,200 won) from the previous session.
It appears to be the impact of favorable assessments related to Amorepacific coming from the securities industry and an upward revision of the target price.
On this day, Mirae Asset Securities, Kyobo Securities, Sangsangin Investment & Securities, Daol Investment & Securities, NH Investment & Securities, and Hanwha Investment & Securities raised Amorepacific's target price to 180,000 won. Hyundai Motor Securities and LS Securities set it at 170,000 won, and Samsung Securities raised its target to 160,000 won.
Jung Ji-yoon, an analyst at NH Investment & Securities, said, "The fourth quarter of last year missed the consensus (market average forecast) for operating profit due to early retirement costs," and noted, "This year, in addition to the effect of lower labor costs, the results of COSRX, which had been weighing on the stock, are showing a quick turnaround, easing uncertainty."