APR rose more than 10% early on the 9th. Buying is seen flocking in after the securities industry repeatedly issued projections that it will post strong results in the first quarter of this year.
As of 9:22 a.m. that day, APR was trading at 369,500 won on the Korea Exchange, up 34,000 won (10.13%) from the previous session. It climbed to as high as 385,000 won early in the session, setting a 1-year high.
Samsung Securities raised APR's target price that day to 500,000 won from the previous 370,000 won. It projected first-quarter revenue and operating profit this year at 580.6 billion won and 146.1 billion won, up 118% and 168%, respectively, from a year earlier.
Lee Ga-young, an analyst at Samsung Securities, said, "It is already well known not only in the stock market but also in the cosmetics industry that APR's market sensing (the ability to read market trends) and rapid product implementation capabilities are overwhelmingly superior," adding, "Even so, the fact that its growth rate continues to lead the pack proves that competitors find it difficult to easily copy its strategy."
Mirae Asset Securities and Daol Investment & Securities also raised their target prices to 480,000 won and 460,000 won, respectively, from the previous 450,000 won and 350,000 won.
Bae Song-yi, an analyst at Mirae Asset Securities, said, "The main drivers of earnings growth this year will be U.S. offline and Europe," and "With the cosmetics industry holding up better than market concerns, the leading company APR is seeing the greatest benefit."