[EQUITIES] NH Investment cuts Hyundai Glovis earnings target for the year

Published : Jul 15, 2016 - 15:43 Updated : Jul 15, 2016 - 16:25

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[THE INVESTOR] NH Investment & Securities on July 15 lowered its earnings target on Hyundai Glovis, citing slowing exports of its parent company, Hyundai Motor.

NH cut the logistic firm’s sales target for this year and 2017 by 1.5 percent and 3.5 percent, respectively.

But for second-quarter earnings, NH said the firm would maintain solid growth, with operating profit rising 12.7 percent to 178.8 billion (US$ 155.93 million) and sales growing 5.3 percent to 3.89 trillion won.

By Kim Ji-hyun (jemmie@heraldcorp.com)