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[Alpha Biz=(Chicago) Reporter Paul Lee] Hanwha Investment & Securities analyzed on the 2nd that SM's stock price trend is weak due to sluggish albums and concerns over uncertainties in major shareholders. The investment opinion 'buy' was maintained, and the target price fell from 140,000 won to 120,000 won.
Hanwha Investment & Securities said, "SM recorded operating profit of 26.6 billion won in the fourth quarter of last year, which is estimated to have been below market expectations." "It is true that album sales in the fourth quarter of last year were rather sluggish than expected at the time of its release," researcher Park said. "Performance and MD-related sales must have decreased compared to the previous quarter due to the lack of large-scale performances."
"Reverse growth in album sales across the market and uncertainties of major shareholders related to the acquisition of Kakao's stake in SM early last year are negatively affecting stock prices," Hanwha Investment & Securities said. "Artists belonging to SM have not yet released real albums this year and uncertainties related to major shareholders have recently been resolved through Kakao disclosure." Rather than concerns already reflected in the market, we should pay attention to future artist moves.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
