NH Investment keeps BGF Retail stock target at KRW 180,000

Published on 10/05/2026 at 20:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Third-quarter revenue is forecast at KRW 2.5188 trillion, up 2.30 percent year over year. Heungkuk sees a KRW 200,000 target for BGF Retail stock.

BGF Retail, KR7282330000, Illustration mit AI erstellt.

BGF Retail (KR7282330000) has a KRW 180,000 target from NH Investment, which kept its Buy rating on October 1, 2026, according to eDaily. The broker forecasts third-quarter revenue of KRW 2.5188 trillion, up 2.30 percent year over year, and operating profit of KRW 101.5 billion, up 4.00 percent. The central question is whether improving store productivity can offset a tougher comparison base.

Third-quarter earnings set the test

NH Investment expects BGF Retail's third-quarter operating profit to match consensus, while sales growth is projected to slow temporarily because of the prior-year impact of consumer recovery coupons. The same report says July and August were softer, but September showed a recovery in sales momentum.

The forecast also points to a wider earnings recovery in 2026. NH Investment sees annual operating profit reaching KRW 295.2 billion, up 16.20 percent, as same-store sales improve and depreciation pressure eases.

Analysts raise the valuation bar

Heungkuk Securities raised its target from KRW 190,000 to KRW 200,000 and kept its Buy rating on September 15, 2026, according to eDaily. Its third-quarter forecast calls for revenue of KRW 2.6 trillion, up 5.20 percent, and operating profit of KRW 108.0 billion, up 10.60 percent, with an operating margin of 4.20 percent.

That view places more weight on mix and format than on store-count expansion alone. Heungkuk expects higher-margin products, larger stores and operating efficiencies to support a 2026 revenue forecast of KRW 9.5 trillion, up 5.30 percent, and operating profit of KRW 306.7 billion, up 20.80 percent.

Market value and operating scale

BGF Retail reported second-quarter 2026 revenue of KRW 2.4268 trillion and operating profit of KRW 84.9 billion. Net income was KRW 56.8 billion for the same period, giving the latest reported quarter a clear earnings base behind the analyst forecasts.

The company operates convenience stores, a franchise network and fresh-food production under its CU business. Its official website describes a national franchise system, central kitchens and logistics services, while international master-franchise agreements support expansion beyond South Korea.

Stock remains below its yearly high

BGF Retail's KRX quote was KRW 127,900 on October 1, 2026, while its 52-week range was KRW 101,200 to KRW 156,600 as of October 2, 2026. Market capitalization was KRW 2.2 trillion as of October 5, 2026, keeping the analyst targets materially above the latest KRX reference level.