(Photo = provided by Kiwoom Securities)

 

[Alpha Biz= Reporter Paul Lee] Korea Investment & Securities maintained its investment opinion on Kiwoom Securities as "buying" and raised its target stock price from 145,000 won to 155,000 won. Kiwoom Securities said its profitability will continue to improve, adding that it is the best stock in the securities sector.

"Kiwoom Securities' controlling shareholders' net profit in the first quarter will be KRW 209 billion, 17% above market expectations," Korea Investment & Securities Co. said on the 5th. "Gooder-than-expected domestic stock and overseas stock agreements are expected to lead to solid net profits in the retail sector and take a lead in the PI (equity capital investment) sector," Korea Investment & Securities Co. said on the 5th.

"Operating gains and losses are expected to be 27.5 billion won, similar to the previous quarter," said an official at Korea Investment & Securities Co. "With 17.3 billion won in earnings from dividends being recognized, as the local stock market has been showing positive performance since February, the possibility of further improvement in operating gains and losses is also opened due to good profits in the PI sector."

"The consignment sales commission is estimated to be 168.3 billion won, up 20 percent from the previous quarter," Korea Investment & Securities said. "The overall contract amount of overseas stocks in the market has increased 48 percent on-quarter to 103 trillion won, and Kiwoom Securities' share of overseas shares has also improved by around 3 percentage points (p)."

 

 

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