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

Korea Investment & Securities said on May 11 that Lotte Shopping’s earnings improved as a rise in market indexes supported stronger department store demand, and it raised its target price from 120,000 won to 200,000 won. The original report framed the trend as department store sales benefiting from an increase in newly wealthy consumers amid stronger asset-market conditions. It also referred to Lotte Shopping’s first-quarter operating profit for this year, though the supplied summary did not disclose a figure. The revision highlights department store demand and index movements as key variables for the company’s outlook. Source: mk.co.kr