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[Alpha Biz=(Chicago) Reporter Kim Jisun] Shinsegae Universe Club, an online and offline integrated membership newly introduced by Shinsegae Group, has been unveiled, but E-Mart's stock price has not changed much.
As Shinsegae Universe Club aims, it has secured 10 million subscribers by the end of this year, and it is noteworthy whether it will be able to contribute to the rise in stock prices.
According to the Korea Exchange, E-Mart shares closed at 82,100 won on the 9th, a day after the Shinsegae Universe Club was unveiled, down 100 won from the previous day's closing price. It is close to 81,500 won, the lowest price ever since it was listed in Shinsegae in June 2011.
Stock markets are also lowering their target stock prices for E-Mart. IBK Investment & Securities lowered the target price of E-Mart from 98,000 won to 80,000 won, and KB Securities also set the target price at 110,000 won, down 21% from the previous year.
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"We recommend you to approach E-Mart's second-quarter performance conservatively," said Nam Sung-hyun, an analyst at IBK Investment & Securities. "Although the business environment is positive compared to the first quarter, it is not easy to achieve a turnaround. The investment opinion is neutral and the target stock price is 80,000 won."
The industry has been paying attention to Shinsegae Universe Club, an ambitious work by Shinsegae Group Vice Chairman Chung Yong-jin, saying E-Mart's stock price will decide.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
