Shinsegae Target Raised 40% as Department Stores and Duty-Free Drive Earnings

Shinsegae is drawing higher market expectations after posting a first-quarter earnings surprise that far exceeded consensus estimates this year. Hanwha Investment & Securities raised its target price for Shinsegae by 40%, from 470,000 won to 660,000 won. The upgrade reflects a dual growth trend led by both department stores and duty-free operations. The original report also noted that the Louis Vuitton chairman visited Shinsegae, highlighting attention around luxury demand and retail channels. Following the strong first-quarter results, investors are paying closer attention to Shinsegae’s earnings outlook and valuation. Source: mk.co.kr