'Boring Sideways Market'... Which Metaverse Stocks Have Raised Target Prices?

[Asia Economy Reporter Ji Yeon-jin] As the domestic stock market has been repeatedly moving sideways recently, metaverse exchange-traded funds (ETFs), which are attracting large sums of money, are emerging as an investment strategy.

According to the financial investment industry on the 20th, the 12-month earnings per share (EPS) forecasts for U.S. S&P 500 companies have been rising for eight consecutive weeks as profit forecasts for reopening-related stocks have been upgraded. In contrast, the KOSPI 12-month EPS forecasts have recently dropped sharply.

However, the number of companies with upwardly revised target prices in metaverse-related stocks is increasing. The total assets under management of metaverse-themed ETFs launched in mid-last month have surpassed 600 billion KRW, attracting market attention. While the overall domestic market continues to see a predominance of companies with downward target price revisions, the target price increases of mid-cap stocks in the information technology (IT) and communication sectors, which are highly related to the metaverse, have been remarkable.

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Seol Tae-hyun, a researcher at DB Financial Investment, recommended companies such as NCSoft, JYP EnT, and Pearl Abyss, which are commonly invested in by domestic metaverse-themed ETFs and have both rising profit forecasts and upwardly revised target prices.

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