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Hana Securities Reaffirms 'Buy' on Nongshim, Citing Strong Overseas Growth Potential
Consumer Non-Durables · Food: Major Diversified · yonhap_finance · 2026-09-07
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Hana Securities maintains a 'Buy' rating on Nongshim, highlighting expected overseas revenue growth and new plant capacity as key drivers for stock recovery.
What Happened
Investment Outlook: Hana Securities has maintained its 'Buy' rating and 540,000 KRW price target for Nongshim. Analysts suggest that the recent dip in share price presents a favorable entry point for investors.
Overseas Expansion: The company is set to begin operations at its new export-focused plant in late October. With rising interest in instant noodles across Europe, annual exports to the region are projected to exceed 200 billion KRW next year.
US Market Performance: Nongshim is also seeing a recovery in its US operations, with a 10% growth trend in dollar-denominated sales expected for the third quarter. This is supported by an expanded product lineup and new distribution channel penetration.
Earnings Forecast: The firm projects a 11.6% year-over-year increase in third-quarter operating profit to 60.7 billion KRW. Despite recent fluctuations in the KRW/USD exchange rate, the company's earnings visibility remains high due to its robust international business.