"Thanks to Coupang" CJ Logistics Target Price Raised on Big-Box Store Deregulation... ECOPRO BM Rated 'Neutral' After Short-Term Surge [Jutopia]

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[Financial News] On the morning of February 6, here is a summary of key brokerage reports.
Analysts expect CJ Logistics to benefit in the dawn delivery market from the easing of regulations on large discount stores. ECOPRO BM’s share price has surged 48% since the start of the year on expectations for new businesses, but analysts point to mounting valuation pressure. Netmarble’s fourth-quarter results were in line with consensus, and its plan to cancel all treasury shares is seen as a positive for shareholder returns.
\r\n\r\n◆CJ Logistics (000120)― KB Securities / Analyst Kang Sung-jin
- Target price: 140,000 won (raised from 130,000 won)
- Investment rating: Buy
KB Securities stated that CJ Logistics is likely to benefit from higher dawn delivery volumes as operating restrictions on large discount stores are eased. Analyst Kang Sung-jin expects the government and ruling party to relax late-night operating restrictions and mandatory closure days for large-scale stores under the Distribution Industry Development Act. He noted that CJ Logistics, which is exclusively responsible for Emart’s dawn delivery, should be a direct beneficiary of increased new shipment volume. Kang added that if delivery times are spread out thanks to deregulation, the company could improve efficiency without additional investment.
\r\n\r\n◆ECOPRO BM (247540)― Shin Young Securities / Analyst Park Jin-soo
- Target price: 190,000 won (raised from 160,000 won)
- Investment rating: Neutral
Shin Young Securities maintained a Neutral rating on ECOPRO BM, saying that despite expectations for new businesses, the stock has limited room for further gains in the near term. Analyst Park Jin-soo explained that fourth-quarter operating profit beat market expectations by 62%. He added that the share price has risen 48% since the start of the year, driven by optimism over the humanoid robot industry and expectations that the company will benefit from solid electrolytes and cathode materials for next-generation all-solid-state batteries. Park noted that, given the recent sharp rally, valuation now looks burdensome and further upside is likely to be limited.
\r\n\r\n◆Netmarble (251270)― Daol Securities / Analyst Kim Hye-young
- Target price: 76,000 won (unchanged)
- Investment rating: Buy
Daol Securities reported that Netmarble’s fourth-quarter 2023 results were in line with market expectations and that its shareholder return plans are positive. Analyst Kim Hye-young said operating profit in the fourth quarter jumped 214.5% year-on-year, while revenue from Seven Knights Re:BIRTH rose 43.2% quarter-on-quarter thanks to its global expansion in September. Kim also highlighted as a positive that Netmarble plans to enhance shareholder value by cancelling all 4.02 million treasury shares it acquires from this year through 2028.
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sms@fnnews.com Reporter Sung Min-seo Reporter