Hanhwa Investment & Securities raised the target price from KRW 36,000 to KRW 47,000 on October 10, saying that a new group is entering a growth phase for the company.
“It is time to focus on rising momentum from the valuation of the stock’s net asset value (PBR) rather than earnings, and new group momentum,” said Hanhwa Investment & Securities Researcher Ji In Hae.
First, ‘Black Pink‘ is rapidly growing in domestic sound sources (long-term top spot) and Japanese concert audience (Arena tour 6 months year-end Black Pink 7 times and Twice 9 times). The number of subscribers on YouTube, which has gained global popularity, reached 9.26 million, and the rate of latest music video (MV) hits exceeded BTS. Black Pink will finish its domestic activities this month and will start the Japan Arena tour next month, advanced markets such as North America and Europe in September, and domestic comeback at the end of the year.
“Other boy groups iKon and Winner have also entered the growth trajectory by increasing the number of concerts in Japan and Asia based on stable fandom” said Ji-won researcher. “The most profitable group in the company, the fact that the traffic is structurally growing is clearly a re-evaluation factor. “