[Click eStock] "HYBE, BTS Comeback Effect Expected... Target Price Maintained"

On the 23rd, Kiwoom Securities maintained a buy rating and a target price of 290,000 KRW for HYBE, stating that "the full-group comeback effect of BTS will unfold comprehensively."

On the same day, Namsoo Lee, a researcher at Kiwoom Securities, stated, "The comebacks of major artists including BTS will drive growth across all business areas. BTS's contribution, starting from the second half of this year, will continue until 2026."

He projected that last year's fourth-quarter revenue would increase by 5.5% year-on-year to 642 billion KRW, while operating profit is expected to decrease by 9.0% to 81.1 billion KRW. The researcher said, "The album comebacks and concert activities of key artists such as BTS's Jin, TOMORROW X TOGETHER, and ENHYPEN will be faithfully reflected in the core business, resulting in solid performance. Album sales are expected to exceed 11 million copies, and the world tours and MD (merchandise) business growth of SEVENTEEN, TOMORROW X TOGETHER, and ENHYPEN will also contribute positively."

He particularly noted that most BTS members will complete their military service this year. Expansion of album, concert, MD, and advertising businesses through full-group activities is anticipated. The researcher added, "After completing their military service, BTS members will embark on solo activities, and the comprehensive comeback effect is likely to continue long-term. The comeback of the full BTS group and the world tours and IP diversification related to existing artists' MD will minimize issues related to NewJeans."

He forecasted this year's revenue to be 2.4032 trillion KRW and operating profit to be 290.7 billion KRW, representing increases of 10.7% and 44.9% respectively compared to the previous year. The researcher added, "The growth of rookie boy groups and Japanese and Latin artists will also contribute to additional performance improvements. We expect a significantly high recovery resilience this year."

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