[Featured Stock] Kakao Rises Over 4% Early Session on Earnings Improvement Expectations
Sales Expected to Increase by 15% and Operating Profit by 30%
Kakao's stock price is rising more than 4% in early trading on expectations of an operating profit turnaround.
According to the Korea Exchange on the 8th, as of 9:35 a.m., Kakao was trading at 58,100 won, up 4.12% from the previous close.
The rise in Kakao's stock price appears to be due to expectations of improved earnings. According to financial information provider FnGuide, Kakao's projected revenue and operating profit for this year are 9.4172 trillion won and 616 billion won, respectively, representing increases of 14.9% and 29.6% compared to the previous year.
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Hyundai Motor Securities analyst Kim Hyun-yong stated in a report, "The key investment points are the full-scale launch of the global IP business, expansion of blockbuster content capabilities, the start of the healthcare business, and profit potential from future overseas expansion," raising the target price by 11% to 80,000 won from the previous estimate.
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