April 26, 2024

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[THE INVESTOR] Kakao’s earnings will improve in the second half, said Eugene Investment and Securities on May 23, raising the target price to 120,000 won (US$107.33) from 100,000 won and upgrading its recommendation to a “buy.”

It is utilizing its flagship application KakaoTalk as an ad platform, developing its Plus Friend service into a business platform and letting the users search stores, which will propel earnings, said analyst Jeong Ho-yun.

Its relisting on KOSPI will be completed by the third quarter and could lead to an additional stock price rise, while the launch of Kakao Bank will positively influence investor sentiments, added the analyst. 

By Hwang You-mee (theinvestor@heraldcorp.com)