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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hana Securities said that SM has reached a very attractive price level without Kakao-related risks.
Although its performance in the second half is somewhat disappointing, expectations for next year are still valid. The investment opinion was 'buy' and the target price was maintained at 165,000 won.
"Kakao-related risks have recently been highlighted and uncertainties are high because it is a legal issue," Hana Securities said in a report on the 9th. "Industrially, stock prices are generally sluggish as human-related risks such as renewal of BLACKPINK contracts and drugs are highly reflected."
SM also saw its share price return ratio (PER) fall to 17 times next year as such risks were reflected. The researcher said, "It was close to the low point in the past when TVXQ joined the military or in the difficult market environment in 2022."
However, as the stock price is nearing its low point, it is emphasized that it is a price range that can increase the proportion aggressively.
SM's sales and operating profit in the third quarter were KRW 266.3 billion and KRW 50.5 billion, respectively, in line with the consensus, achieving record-high performance.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
