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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] Daol Investment Securities has indicated that Hana Tour could benefit from an aging population, particularly with increased income levels among customers aged 50 and above. They have accordingly revised their investment recommendation to 'buy' and set a new target price of 80,000 Korean won.
Daol Investment Securities stated, "The travel industry is closely tied to national income levels, and there is a correlation coefficient of 0.9 between household income and overseas travel. While there are concerns about declining demand for package tours, there is potential for Hana Tour to benefit from the aging population as income levels increase among those aged 50 and above."
For this year, Daol Investment Securities expects Hana Tour to achieve sales of 688.8 billion Korean won, a 67.3% increase from the previous year, with anticipated operating profit growing by 100.5% to 63.8 billion won compared to last year.
Daol Investment Securities noted, "Package tour deposits in Q1 2024 recovered to 613 billion won, reaching 94% of the level seen in 2019," and "Outbound package tourists have also recovered by 60% compared to 2019."
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
