[Alpha Biz= Reporter Kim Sangjin] Hana Securities has downgraded its target price for Kakao from 60,000 won to 50,000 won on November 11. However, it has maintained a "Buy" rating on the stock.

Analyst Lee Jun-ho from Hana Securities explained that the target price reduction reflects the slower growth in Kakao Entertainment and Piccoma. He stated that the recovery of Kakao's stock price will depend on the success of its AI (artificial intelligence) initiatives.

Lee also mentioned that Kakao's new AI messenger app, "Kanana," is set to undergo an internal closed beta test (CBT) by the end of this year, with a public CBT planned for the first quarter of 2025. Based on user feedback, the app will be further refined, with its official launch expected in the second half of 2025.

 

 

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