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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Minyoung] On the 7th, Shinhan Investment & Securities stated that due to overall sluggish market conditions and weak performance, they are lowering their expectations. They reduced the target price for SBS from 34,000 won to 30,000 won while maintaining a 'Buy' rating.
Shinhan Investment & Securities pointed out that despite expectations for a recovery in performance due to the rapid decline in TV advertising negative growth after the Chuseok holidays last September, there hasn't been a significant reversal in the trend yet, along with the base effect from the advertising industry last year.
They mentioned, "TV advertising volume could recover due to the benefits from the Olympics events in July and August, and there are expectations for highly anticipated dramas in the second quarter," adding that the revival of weekday dramas could also contribute to the improvement of advertising and business income.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
