[Featured Stock] "Excluding NewJeans Earnings Estimates"... HYBE Stock Weakens
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HYBE shows weakness from the early trading session on the 15th. It is interpreted that a report lowering the target price by removing all activities of NewJeans from earnings estimates dampened investor sentiment on the day.
At 9:06 AM, HYBE was trading at 182,500 KRW, down 0.92% (1,800 KRW) from the previous day.
On this day, Eugene Investment & Securities maintained a 'Buy' rating on HYBE but lowered the target price from 290,000 KRW to 270,000 KRW. Researcher Lee Hyun-ji of Eugene Investment & Securities stated, "Considering the ongoing ADORE issue, we conservatively removed all future activities of NewJeans from earnings estimates," adding, "We lowered the target price by 6.9%."
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On the previous day, Kim Kyu-yeon, a researcher at Mirae Asset Securities, also lowered the target price from 300,000 KRW to 270,000 KRW, saying, "Due to the prolonged governance issue, a discount rate of 20% was applied."
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