External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Leading full-service brokerage firm in Vietnam. 

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Equity Bottom-Up

<ul><li>We downgrade our rating on JB Financial Group to Hold (from Trading Buy) while raising our target price to W25,000 (from W19,000).</li><li>We derive our target price by applying a target P/B of 0.8x to our 2025F BPS.</li><li>The 0.8x multiple reflects: 1) the company’s plan to raise its shareholder return ratio to 50% by 2027 (as part of its value-enhancement plan); and 2) its solid capital ratios, which should allow it to achieve this goal. However, with upside limited to just 9.6%, we lower our rating to Hold.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We downgrade our rating on JB Financial Group to Hold (from Trading Buy) while raising our target price to W25,000 (from W19,000).We derive our target price by applying a target P/B of 0.8x to our 2025F BPS.The 0.8x multiple reflects: 1) the company’s plan to raise its shareholder return ratio to 50% by 2027 (as part of its value-enhancement plan); and 2) its solid capital ratios, which should allow it to achieve this goal. However, with upside limited to just 9.6%, we lower our rating to Hold.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

JB Financial Group (175330 KS/Hold)Limited Upside

South Korea

JB Financial Group Co. Ltd., a holding company, provides a full range of consumer and commercial banking-related financial services.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00