Cosmecca Korea's shares surged more than 13% in early trading after the company reported second-quarter results that exceeded market expectations.
As of 9:19 a.m. on the Korea Exchange, Cosmecca Korea's stock was trading at 107,900 won, up 12,900 won (13.58%) from the previous trading day. The stock opened at 103,000 won and reached a high of 109,600 won during the session.
The rise in stock price is attributed to the strong earnings report released after the market closed the previous day. Cosmecca Korea announced that its consolidated operating profit for the second quarter was 32.1 billion won, a 39.3% increase compared to the same period last year.
In response to the strong performance, analysts have been raising their target prices for the stock. Hyundai Motor Securities noted in a report that "Cosmecca Korea's domestic corporate client orders remain robust, and the client base is continuously diversifying," raising its target price to 130,000 won.
Similarly, Samsung Securities stated, "As an original design manufacturer (ODM) with access to various brands, the company is expected to see solid growth in the second half of the year, supported by diversification in domestic beauty distribution channels, inbound growth, and expansion into overseas markets from the U.S. to Europe," increasing its target price from 110,000 won to 130,000 won.
* This article has been translated by AI.
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