[Featured Stock] Kakao Rises for 6 Consecutive Days... New High

[Asia Economy Reporter Song Hwajeong] Kakao continued its strong performance for the sixth consecutive day, reaching a 52-week intraday high.

As of 9:45 AM on the 6th, Kakao was trading at 526,000 KRW, up 24,000 KRW (4.78%) from the previous day. During the session, it rose to 530,000 KRW, setting a new 52-week intraday high.

The stock's strength is interpreted as a reflection of expectations that Kakao will continue its high growth this year.

Daishin Securities raised its estimates for Kakao's operating profit and net profit for this year by 7% each compared to previous forecasts and also increased the target price to 600,000 KRW. Kakao's first-quarter revenue is estimated at 1.26 trillion KRW, up 45.4% year-on-year, and operating profit is estimated at 160.8 billion KRW, an 82.5% increase. Minah Lee, a researcher at Daishin Securities, said, "With the entry into the peak season in the second quarter, performance growth will become more prominent," adding, "It is necessary to pay attention to recent mobility investment attraction and business growth, the year-round listing of Pay and Bank, and the full-scale growth of new businesses such as Kakao Entertainment, Kakao Enterprise, and Ground X."

This content was produced with the assistance of AI translation services.