[Special Stock] Suseong Webtoon, Increased Expectations for Webtoon Entertainment Growth
As Webtoon Entertainment (WBTN), listed on the US Nasdaq market, surged, Suseong Webtoon’s stock price is also on the rise. Webtoon-related stocks such as D&C Media, YLAB, Kidari Studio, and Mr. Blue are all increasing simultaneously.
At 9:58 AM on the 23rd, Suseong Webtoon was trading at 602 won, up 4.15% from the previous day.
Suseong Webtoon’s IP division recently signed a contract with Naver Webtoon to supply two popular series currently serialized in South Korea. They plan to expand the webtoon supply to 17 titles in the future. The K-webtoon "Mat.Gim.Kkul: Matbon Gime Kkulkkuk" features a protagonist who is a chef, connecting with the K-food wave such as gimbap, raising expectations for success in North America.
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Goldman Sachs and JP Morgan have recognized the growth potential of webtoons and provided optimistic analyses of Webtoon Entertainment’s performance. Goldman Sachs set a 12-month target price of $62 for Webtoon Entertainment. They analyzed that the business model, including webtoon advertising, has long-term growth potential. JP Morgan set a short-term target price of $23, evaluating an 18% annual sales growth potential until 2026 and a strategy to expand presence in the North American market as key drivers of future growth.
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