April 20, 2024

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[THE INVESTOR] Studio Dragon is garnering expectations for its earnings in the latter half, said Mirae Asset Daewoo on April 6, maintaining a “buy” recommendation and 110,000 won (US$103.41) target price. 

Its revenue in the first quarter will increase 19 percent on-year to 89.6 billion won and operating profit by 5.3 percent to 14.7 billion won, in line with market consensus, said analyst Park Jeong-yeop.

Its earnings are bolstered by sales to many countries and strong sales to Netflix, albeit less than expected, noted the analyst. 

Earnings prospects for the latter half in particular are high as it plans to unveil major hits, “Mr. Sunshine” and “Memories of the Alhambra,” said Park. 

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