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Hanwha Investment & Securities Cuts Hyundai Department Store Price Target Amid Market Volatility
Retail Trade · Department Stores · yonhap_finance · 2026-08-05
069960
Hanwha Investment & Securities maintains a 'Buy' rating on Hyundai Department Store but lowers its price target to 190,000 KRW due to short-term market headwinds.
What Happened
Investment Rating and Target: Hanwha Investment & Securities has maintained its 'Buy' rating for Hyundai Department Store while adjusting the target price downward from 240,000 KRW to 190,000 KRW. Despite the adjustment, the firm notes that the stock retains significant upside potential of approximately 73% based on current levels.
Growth Drivers: The company continues to see structural growth, highlighted by the proportion of foreign sales reaching 9%. Analysts suggest that this trend, similar to the valuation expansion seen in Japanese department stores, supports a long-term positive outlook for the company's valuation.
Short-term Market Impact: The stock is expected to face short-term volatility in the third quarter due to broader market corrections and a temporary lull in income effects. During this period, the share price is likely to remain sensitive to general market movements rather than company-specific fundamentals.
Earnings and Outlook: Although the second-quarter operating profit of 79.3 billion KRW slightly missed market expectations, the outlook remains optimistic for the fourth quarter. Analysts expect that a recovery in income effects will alleviate consumption concerns and reignite the stock's revaluation process.