[Alpha Biz=(Chicago) Reporter Paul Lee] Afreeca TV shares jumped nearly 5% in a day due to the purchase opinion of global investment bank Goldman Sachs.

On the 29th, Afreeca TV closed at 66,900 won, up 4.86%. The stock hit a yearly high of 93,900 won in September and fell about 30% until the previous day. Goldman Sachs' first report on African TV the previous day affected its 12-month target price at 90,000 won. Goldman Sachs analyzed that the price-earnings ratio (PER) to expected earnings next year is eight times, lower than the historical average (15 times).

Goldman Sachs predicted that Afreeca TV would rebound next year, although it underwent adjustments last year and this year due to a drop in paid customers and sluggish advertising sales.

 

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