[Alpha Biz=(Chicago) Reporter Paul Lee] DS Investment & Securities said on the 21st that CJ Freshway is expected to benefit from the growing demand for food services in the recession. As a result, the company lowered its target stock price by 19% from 57,000 won to 46,000 won while maintaining its investment opinion 'buy'.

"First-quarter sales and operating profit are expected to increase 18% and 21% year-on-year to 664.7 billion won and 12.8 billion won, respectively," said DS Investment & Securities. "This meets market expectations."

"Food material distribution is expected to grow in appearance by expanding key route customers and securing customers through solution businesses due to the re-opening base effect of the previous year, but profitability is expected to slow down somewhat due to the sluggish restaurant business," DS Investment & Securities said.

 

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