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[EQUITIES] ‘CJ CheilJedang’s processed food business to grow’

[THE INVESTOR] CJ CheilJedang’s stock price will rise thanks to the growth in processed foods and bio divisions, according to Korea Investment and Securities on Oct. 19, maintaining a “buy” recommendation and the target price of 500,000 won (US$444.25).

The company’s third-quarter turnover will rise 11.1 percent on-year to 3.74 trillion won and its operating profit 9.8 percent to 244.3 billion won on a consolidated basis, forecast Lee Gyeong-ju, an analyst at the securities firm.


Its performance will improve across the board, and processed food in particular will continue the momentum in the next few years, said Lee.

“Home meal replacements will record two-digit annual growth rate for several years, replacing lower-priced eat outs,” said the analyst, adding that “with the leading technologies as well as marketing and sales capacity, CJ will profit the most.”

By Hwang You-mee (glamazon@heraldcorp.com)
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