KT&G's Revenue Increases Due To The Strengthening U.S. Dollar

Market by zum

Sep.21.2022

As of the afternoon of the 20th, KT&G was trading at KRW 85,900, up 1.90% (KRW 1,600) from the previous day. Kiwoom Securities Researchers assessed KT&G as a "beneficiary of a higher U.S. dollar" and maintained a "buy" rating.

KT&G's Revenue Increases Due To The Strengthening U.S. Dollar

KT&G

A higher U.S. dollar may have contributed to KT&G's over 2% gain. As of the afternoon of the 20th, KT&G was trading at 85,900 won, up 1.90% (1,600 won) from the previous day and up 0.71% from the day before.

KT&G is a "beneficiary of a higher U.S. dollar" according to Kiwoom Securities, which has maintained its "buy" recommendation and increased its price objective from 103,000 won to 110,000 won.

According to a researcher at Kiwoom Securities, KT&G's third-quarter operating profit will beat market forecasts by 418 billion won. This is a result of increased domestic tobacco sales, a rebound in demand, and improved earnings for the corporation as a result of price increases."

#Traditional tobacco #Legislation #Africa #South Africa

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