"SM, record sales and strong domestic and international activities...target price" -Hyundai security
On the 19th, Hyundai securities raised its target price from KRW45,000 to KRW50,000, saying, "We recorded good results due to soundtrack and strong sales of music and increased domestic and overseas activities." We also maintained our BUY rating.
“SM recorded sales of 173.5 billion won in the third quarter of this year and Heavy Excavator Landslide op 19.9 billion won, which is better than market forecasts,” said Yoo Sung-man, a researcher at the company.
“The number of performances at home and abroad, including 16 EXO global tours (including about 90,000 concerts in Korea), TVXQ, and NCT127, has also increased,” said Yoo, a researcher at the institute. “In the third quarter, about 300,000 people were recognized in Japan, including Taemin’s Arena solo tour and SM Town, BoA, EXO and Super Junior,” he added.
“SM C&C also achieved the highest performance after acquiring Heavy Excavator Landslide op 2.5 billion won,” said Yoo. “Profitability has improved due to increased advertising execution by new advertisers and reduced costs related to content production.” Keith posted an operating loss of 500 million won in the third quarter, but predicted that it is expected to turn profitable in the fourth quarter, including the scheduled airing of the Psychopath Diary.
“In the fourth quarter, we decided that expectations are growing because we will start the North American tour We are the Future Live of SuperM, which was the number one player on the EXO regular album release and Billboard 200, including the Way V solo fan meeting in China and the world tour of EXO and Super Junior.”