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Bang Si-hyuk. (Photo: HYBE) |
[Alpha Biz= Reporter Kim Sangjin] NH Investment & Securities has determined that the controversy surrounding former ADOR CEO Min Hee-jin has entered a lull, downgrading the target price for HYBE to 270,000 KRW, a decrease of 4%.
NH Investment & Securities predicts that the consolidated revenue for Q3 will be 524.1 billion KRW and operating profit will be 59.1 billion KRW, slightly below consensus expectations.
This comes as ADOR and HYBE have rejected the return of former ADOR CEO Min Hee-jin, who was associated with NewJeans. As the prolonged disturbance nears its conclusion, any outcome could positively impact the stock price, although the estimates are conservative.
NH Investment & Securities stated, “Given the length of the noise, the important factor is not the future direction of NewJeans, but the resolution of uncertainty itself.” They added, “To adopt a conservative approach, we assumed the worst-case scenario and adjusted our performance estimates downwards by eliminating all assumptions regarding NewJeans’ future activities.”
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
