[Special Stock] KakaoPay's "Spectacular Debut" and KakaoBank's "Sharp Decline"

[Asia Economy Reporter Lee Seon-ae] While Kakao Pay made a spectacular debut on the stock market, Kakao Bank is plummeting.

As of 9:30 a.m. on the 3rd, Kakao Bank is trading at 61,400 KRW, down 4.21% from the previous trading day. It fell to as low as 66,000 KRW in early trading.

This is interpreted as a result of the fading impact of Kakao Group's material related to Kakao Pay's listing and the downgrade of investment opinions in securities firms' reports.

Kyobo Securities downgraded its investment opinion on Kakao Bank from Buy to Hold, stating that the current stock price is overvalued compared to the appropriate price-to-book ratio (PBR) of 5.0 times. However, the annual performance forecast for Kakao Bank was revised upward, raising the target price from 45,000 KRW to 59,000 KRW.

Researcher Kim Ji-young of Kyobo Securities explained, "Due to recent changes in the domestic environment related to mortgage loans, we lowered the assumed growth rate for the overall mortgage loan market and applied more conservative assumptions regarding credit loans, leading to a Hold investment opinion."

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