Business · Markets · 3 hrs ago
KB Securities cuts Lotte Tour Development target price but keeps Buy rating
KB Securities expects Lotte Tour Development's third-quarter results to fall short of market forecasts.
The brokerage kept its Buy rating on the company.
It lowered its estimate for this year's net profit attributable to controlling shareholders and reduced the valuation multiple it uses.
It cut its target price to 17,000 won, while the shares had closed at 10,580 won the previous day.
KB Securities said the shares could rebound sharply if external uncertainty eases.
The outlook therefore combines weaker expected results with the possibility of a recovery if conditions improve.
KB Securities lowered its target price for Lotte Tour Development to 17,000 won while maintaining its Buy rating.
The brokerage expects the company’s third-quarter results to fall short of market expectations.
It said the shares could rebound sharply if external uncertainties ease.
KB Securities lowered its estimate for net income attributable to controlling shareholders and its valuation multiple.
Lotte Tour Development’s previous-day closing price was 10,580 won.
- Who
- KB Securities and Lotte Tour Development.
- What
- KB Securities cut its target price for the company but maintained its Buy rating.
- When
- The report was dated the 16th.
- Where
- Not stated.
- Why
- KB Securities lowered its net income estimate and valuation multiple, while expecting third-quarter results to fall short of market expectations.
This story does not have two clearly opposing sides.
Lotte Tour Development closed at 10,580 won.
KB Securities expected the company’s third-quarter results to miss market expectations and lowered its target price while maintaining its Buy rating.
- Target price
- 17,000 won
- Investment rating
- Buy, maintained
- Previous-day close
- 10,580 won
- Third-quarter outlook
- Expected to fall short of market expectations
- Net income estimate
- Lowered for income attributable to controlling shareholders