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THE INVESTOR
December 16, 2018
Big Reunion

Stocks & Bonds

[EQUITIES] ‘CJ ENM rallies across sectors’

  • PUBLISHED :December 03, 2018 - 12:36
  • UPDATED :December 03, 2018 - 12:36
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[THE INVESTOR] CJ ENM will remain strong in media, commerce and music sectors, said Hanwha Investment and Securities on Dec. 3 maintaining a “buy” recommendation and 350,000 won (US$313.48) target price. 




Its stock price is the lowest in the industry at 15 times its price-earnings ratio, and when robust earnings are confirmed in the fourth quarter, it will be rerated. In the media sector, in particular, it will reaffirm its dominance in the fourth quarter. Revenue from the sector will reach 422.5 billion won with operating profit of 40.3 billion won, said analyst Kim So-hye.

“Boyfriend” and “Memories of the Alhambra” began airing last week and have already surpassed 10 percent viewing rate, even faster than its previous hits “Goblin” and “Mr. Sunshine.” This will boost not only the media heavyweight’s TV commercials but also the fast-growing digital advertisements. Meanwhile, its commerce division will recover in the fourth quarter as commission hike starts to ease and enters a high season, forecast the analyst. 

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

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