CJ CheilJedang May Continue to Be Pressured by Input Costs -- Market Talk

Dow Jones2023-02-14

0103 GMT - CJ CheilJedang could continue to be pressured by input costs in 1H 2023 after increased prices for grain and other raw materials led to below-consensus 4Q results, Hi Investment & Securities analyst K.S. Lee says in a note. The South Korean food company's operating profit also could turn weaker in the first two quarters of 2023 due to a higher comparison base during the same period last year, she notes. But an earnings recovery could come in 2H on lower input costs, Lee says. Hi Investment cuts the stock's target by 5.7% to KRW500,000 but maintains a buy rating. Shares fall 4.0% to KRW333,000. (kwanwoo.jun@wsj.com)

(END) Dow Jones Newswires

February 13, 2023 20:03 ET (01:03 GMT)

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But an earnings recovery could come in 2H on lower input costs, Lee says. Hi Investment cuts the stock's target by 5.7% to KRW500,000 but maintains a buy rating. Shares fall 4.0% to KRW333,000. 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