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(Photo = Yonhap news) |
[Alpha Biz= Reporter Kim Minyoung] Sangsangin Securities lowered Naver's target stock price from KRW 300,000 to KRW 260,000. It is pointed out that we need to think about the speed of expansion of new businesses. The investment opinion remained 'buy'.
Sangsangin Securities said, "Naver is expected to meet the consensus with sales of 2.5281 trillion won and operating profit of 394 billion won in the first quarter."
Sangsangin Securities believes that Chinese e-commerce companies Ali and Temu have limited influence on Naver commerce. "The cumulative transaction amount since the launch of the K-Venue is estimated to be less than 20 billion won, and Ali is focused on fresh food and daily necessities, not Naver's main category," said Sangsangin Securities. "However, 1.5 trillion won worth of logistics investment is expected, so continuous confirmation is needed."
The advertising sector is expected to grow 5.3% year-on-year. It is estimated that advertising categories have been expanded to introduce shortforms and homefeeds.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
