Business · Markets · 8 hrs ago
Kiwoom keeps YG Entertainment Buy rating despite weak third-quarter profit
Kiwoom Securities said YG Entertainment’s third-quarter operating profit fell well short of market expectations.
YG reported revenue of 156.7 billion won and operating profit of 13.5 billion won for the quarter.
Market expectations refer to the average forecasts made by analysts.
The brokerage kept its Buy rating and 70,000-won target price for the entertainment company.
YG’s previous closing share price was 40,500 won.
Kiwoom said investors should focus on the momentum from new artists debuting next year.
The new artists’ debuts are the key development ahead for investors to watch, according to the brokerage.
Kiwoom Securities maintained its Buy rating on YG Entertainment despite third-quarter operating profit falling significantly short of market expectations.
The brokerage kept its target price at 70,000 won.
It said investors should pay closer attention to the momentum expected from new artist debuts next year.
YG Entertainment reported third-quarter revenue of 156.7 billion won and operating profit of 13.5 billion won.
The previous day's closing share price was 40,500 won.
- Who
- Kiwoom Securities and YG Entertainment.
- What
- Kiwoom maintained its Buy rating and 70,000-won target price despite YG's third-quarter operating profit missing market expectations.
- When
- Kiwoom's assessment was reported on November 10.
- Where
- Not stated.
- Why
- Kiwoom said next year's new artist debut momentum deserves attention.
This story does not have two clearly opposing sides.
YG Entertainment reported revenue of 156.7 billion won and operating profit of 13.5 billion won.
Kiwoom Securities maintained its Buy rating and 70,000-won target price.
- Revenue
- 156.7 billion won
- Operating profit
- 13.5 billion won
- Kiwoom rating
- Buy
- Target price
- 70,000 won
- Previous day's closing price
- 40,500 won
What people are saying
The third-quarter operating profit fell significantly short of consensus, but next year's new artist debut momentum deserves closer attention.