Lotte Rental Target Price Raised to 59,000 Won on TPG Synergy
Eugene Investment & Securities raised its Lotte Rental target price to 59,000 won, citing mobility synergies from TPG's acquisition. Eugene Investment & Securities has raised its target price for Lotte Rental (089860.KS) to 59,000 won from 46,000 Won due to expected synergies from the company's acquisition by global private equity firm TPG. The new target price matches TPG's acquisition price and applies a price-to-earnings ratio of 13.2 times to next year's projected earnings per share, the same level as TPG’s acquisition price. Despite uncertainty over the acquisition, Eugene maintains its buy rating and expects Lotte's third-quarter results to meet market expectations. The firm also noted that TPG is the second-largest shareholder in Kakao Mobility, suggesting Lotte could offer car rental and used-car services on Kakao platforms.
Opublikowany : 10 godzin temu za pomocą Seoul Economic Daily w Business Finance
Target Matches TPG's Acquisition Price Possible Use of Kakao Platform Cited Long-Term Appeal Seen Despite Uncertainty
Eugene Investment & Securities raised its target price for Lotte Rental (089860.K... [2277 symbols]
Tematy: Mergers and Acquisitions
