Report

Hyundai Home Shopping (057050.KS): Earnings momentum fizzling, lower TP to KRW150K

  • -  We believe top-line growth will continue this year, backed by growth in mobile and T-commerce.

  • -  Operating profit, however, will likely fall YoY due to a change in accounting standards.

  • -  We reduce our target price to KRW150,000 to reflect our downward earnings adjustment.

Underlying
Hyundai Home Shopping Network

Hyundai Home Shopping Network mechandises consumer products. Co.'s products include clothes, home appliances and food. Hyundai Home Shopping retails through TV home shoppoing channels, catalogs, and the Inte rnet shopping mall.

Provider
Hyundai Motor Investment & Securities
Hyundai Motor Investment & Securities

Hyundai Motor Investment & Securities is the investment banking arm of the Hyundai Motor Group. The company offers stock brokerage and advisory services; derivative products brokerage and advisory services; wrap account portfolio management services; and VIP wealth management and tax planning, institutional equities, derivatives, and futures brokerage services, as well as sells investment and institutional products. It also provides equity offering, ABS, real estate PF and real estate PF securitization, offshore SOC, structured financing, asset securitization, real estate sales, IPO advisory, and private equity fund and fund management services; and CMA/RP portfolio management and fixed income based investments, as well as involved in the issuance, management, and brokerage of OTC derivatives. In addition, the company offers research services, including macro economic forecasts and stock market outlook, industry overviews and forecasts, fixed income strategies, corporate credit analysis, and valuation analysis. Further, it offers a range of retirement and pension services for individuals and corporate members; portfolios and asset allocation consulting and marketing services; proposing retirement pension plans; contract and payment management services; pension plan advisory and actuarial services; and system development and implementation services, as well as operates call centers for retirement pension services, etc. 

Analysts
Jong-ryeol Park

Other Reports on these Companies
Other Reports from Hyundai Motor Investment & Securities

ResearchPool Subscriptions

Get the most out of your insights

Get in touch