[Infostock Daily= Reporter An Hoe Hyun] Korea Investment & Securities said on the 24th that Naver is expected to continue to grow rapidly in new businesses such as FinTech and Webtoon, as well as sales growth in core businesses such as advertising and commerce. As a result, the investment opinion 'BUY' and the target stock price remained at 390,000 won.
"We expect sales growth of core divisions such as business platforms and advertisements to continue, and new businesses such as FinTech and Webtoon are expected to continue to grow at a high rate, including the formation of new business models and the growth of trading value," the company analyzed.
Sales in the third quarter are expected to increase by 17.5% to 2 trillion won and operating profit to 276.9 billion won, up 37% from the same period last year.
"The growth of the total transaction value(GMV) of Naver shopping is expected to continue, and business platform sales are expected to increase by 13.9% year-on-year to 818.9 billion won, and advertising is expected to increase by 17.3% to 179.1 billion won, reflecting the additional impact of new inventory," the company explained.
Reporter An Hoe Hyun ahh@infostock.co.kr
