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Photo = Yonhap news |
[Alpha Biz= Paul Lee] SEOUL, June 20, 2025 — NH Investment & Securities has raised its target price for Amorepacific Corp. (090430.KQ) from KRW 155,000 to KRW 175,000, citing a rebound in China sales and accelerated expansion of its derma skincare brands in Western markets.
In a research note released Thursday, analyst Jiyoon Jung highlighted, “We view the company’s recovery in China and its expansion into new beauty segments—such as derma, body, and hair care—based on strong R&D capabilities as positive factors.”
Amorepacific’s Q2 revenue from China and duty-free channels rose 21% and 10% year-on-year, respectively, signaling a return to growth. “Improving consumer sentiment in China and signs of normalization in Korea–China relations are also supportive of investor confidence,” Jung added.
In Western markets, Amorepacific is ramping up its push with derma brands Aestura and COSRX, expanding SKUs and strengthening market presence in the U.S. and Europe. “A reassessment of its geographic and brand portfolio diversification is warranted,” said Jung.
NH Investment estimates the company’s consolidated Q2 revenue at KRW 1.016 trillion and operating profit at KRW 75.8 billion, up 12% and 1,724%, respectively, from the same period last year.
For full-year 2025, Amorepacific’s revenue is projected at KRW 4.368 trillion, with an operating profit of KRW 424 billion, marking year-over-year growth of 12.4% and 92.3%, respectively.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
