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(Photo = Yonhap news) |
[Alpha Biz=(Chicago) Reporter Kim Jisun] Mirae Asset Securities lowered its target stock price by 5%, saying Kakao will record sales and operating profit below market expectations in the first quarter of this year.
Mirae Asset Securities estimated Kakao's first-quarter sales and operating profit at 1.957 trillion won and 130 billion won, respectively, in a report on the 1st. Considering local securities firms' average first-quarter sales and operating profit of 2.131 trillion won and 153 billion won for Kakao compiled by financial information provider FnGuide, the figure is estimated at 274 billion won and 23 billion won less than this.
Mirae Asset Securities also lowered Kakao's target stock price from 82,000 won to 78,000 won as its earnings forecast has decreased.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
