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[Alpha Biz=(Chicago) Reporter Paul Lee] Daishin Securities lowered its target share price from 90,000 won to 65,000 won on the 22nd, saying its performance is expected to be sluggish this year due to YG Entertainment's fourth-quarter operating profit below market expectations and its failure to renew Black Pink's solo activities.
"YG Entertainment's operating profit in the fourth quarter of last year will be 6.1 billion won, down 60% year-on-year, 32% below the consensus (market average forecast)," Daishin Securities said.
Daishin Securities then predicted that this year will be the most difficult time for YG Entertainment.
YG Entertainment's operating profit this year will be 84 billion won, down about 1 billion won from last year.
On the 19th, YG Entertainment closed at 42,550 won, down 1.05% from the previous trading day.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
