Lotte Shopping Target Raised to 200,000 Won as Department Store Demand Improves

Korea Investment & Securities said on May 11 that it raised its target price for Lotte Shopping from 120,000 won to 200,000 won. The brokerage said rising stock market indexes improved spending capacity among higher-income consumers, lifting demand for department stores and helping earnings recover. The source report said Lotte Shopping’s first-quarter operating profit showed an improving trend. Analysts viewed the recovery in department store demand as a key factor for Lotte Shopping’s valuation. The target hike reflects expectations that stronger indexes and department store consumption are feeding into the company’s earnings outlook. Source: mk.co.kr