[Click eStock] Mirae Asset Securities Actively Securing Growth Drivers... Target Price Raised

Samsung Securities announced that it has raised its target price for Mirae Asset Securities from 50,000 won to 75,000 won, citing the company's active efforts to secure growth drivers, particularly in overseas operations. However, the investment opinion was maintained at HOLD to reflect the recent sharp rise in the stock price.

Jung Mingki, an analyst at Samsung Securities, stated, "Mirae Asset Securities posted a consolidated profit of 996.2 billion won in the first quarter, which was slightly below market consensus," but explained, "This was due to increased related expenses resulting from strong performance in its core business areas, such as stock prices and asset valuation gains."

Jung added, "We are seeing active moves by Mirae Asset Securities to expand its business. The company is seeking to broaden its brokerage business coverage in advanced markets by establishing additional subsidiaries in Japan and Australia, pursuing mergers and acquisitions (M&A) of U.S. securities firms, and launching a global mobile trading system (MTS) through its Hong Kong subsidiary."

He emphasized, "Although it is still at an early stage, if the company's global platform strategy takes more concrete shape, it is expected to break through the limitations in valuation from the perspective of domestic securities and financial companies."

He further noted, "Mirae Asset Securities is also well-positioned to secure funding for further expansion, as it has achieved significant investment results in innovative companies such as SpaceX. Therefore, the potential financial burden from large-scale investments in the future is not expected to be significant."

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