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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Minyoung] NH Investment & Securities lowered its target price for Kakao by 13.8% from 65,000 won to 56,000 won and maintained its investment opinion 'buy'.
NH Investment & Securities said on the 4th, "The main body business based on KakaoTalk is still steady, but content-oriented subsidiaries are continuing to suffer."
"It is regrettable that the new growth and business expansion expected from Kakao are not yet visible," NH Investment & Securities said. "The new CEO and the company's new strategy and direction will be embodied during the second half of the year."
NH Investment & Securities expects Kakao's second-quarter sales to rise 6.7 percent year-on-year to 2.5 trillion won and operating profit to 126.3 billion won, up 11.7 percent over the same period. Operating profit is estimated to be below the market expectation of 148.3 billion won.
In addition, NH Investment & Securities lowered Kakao's operating profit forecast for this year by 1.1% to 600.6 billion won from the previous 607.2 billion won, and lowered its operating profit forecast for next year by 1.0% from 688.7 billion won to 681.8 billion won. The 2026 operating profit forecast fell 5.4% from 803.9 billion won to 760.5 billion won.
AlphaBIZ Kim Minyoung(kimmy@alphabiz.co.kr)
