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South Korea's Top Three Department Stores See Target Price Hikes of 30-71% on July 16 Amid Consumer Recovery

GateNews
Stocks
Shinsegae-3.44%
According to Daewoo Securities and other Korean brokerages on July 16, target prices for South Korea's three major department store operators have been significantly raised. DB Securities upgraded Shinsegae's target price from 600,000 won to 900,000 won (50% increase), Samsung Securities raised Lotte Shopping from 185,000 won to 230,000 won (24% increase), and NH Investment Securities lifted Hyundai Department Store from 140,000 won to 240,000 won (71% increase). The upgrades reflect expectations of improved domestic consumption and rising foreign tourist spending across fashion, cosmetics, and premium segments. Analysts note recent stock price declines are attributable to broader market volatility rather than deteriorating fundamentals, with domestic consumer sentiment index remaining above baseline at 106.6.
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