Hybe's stock price rises even in the absence of BTS..."Stock price target raised"
This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
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stockmk2020@alphabiz.co.kr | 2023-05-03 21:49:22
[Alpha Biz=(Chicago) Reporter Kim Jisun] Stock markets have recently raised Hybe's target price.
Despite the absence of the group BTS due to its military service, its performance has been on a high march.
The securities industry is expected to record its best performance in the second quarter following the first quarter of this year. As if to respond to the bright outlook, HIVE broke its 52-week high on the 3rd.
On this day, Hybe closed at 294,500 won, up 3.51%. At one point in the market, it rose to 303,000 won, breaking the 52-week report price. Hybe shares rose 60.1% from last month to this day and 73.7% from the beginning of this year.
Hybe said in a conference call on the 2nd that it recorded sales of 410.6 billion won and operating profit of 52.5 billion won in the first quarter. Sales rose 44.1 percent and operating profit 41.7 percent year-on-year. Both sales and operating profit are the highest ever in the first quarter.
Shortly after announcing its first-quarter earnings, 12 securities firms raised their target stock prices. Samsung Securities doubled its target price from 178,000 won to 330,000 won. Also, eBEST Investment & Securities and NH Investment & Securities presented the highest price of 370,000 won among securities companies that offered Hybe target price.
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