This article is translated by AI company Flitto and Infostock Daily using neural machine translation technology.
CJ ENM CI.
NH Investment & Securities presented its investment opinion on CJ ENM as 'buy' and the target price as 230,000 won. The target price has been raised by 15% compared to the previous target of 200,000 won.
In the second quarter, CJ ENM's consolidated sales are expected to exceed the consensus with 845.3 billion won (+1% y-y) and operating profit of 83.3 billion won (+14% yy).
NH Investment & Securities said, "While the entire sector has upside potential, the benefits of the ad market recovery in the media sector are clear." NH Investment & Securities added, "Due to the recovery of the ad market and the success of contents, ad sales will continue to grow and production cost efficiency will continue.".
In particular, NH Investment & Securities noted the increase in the number of subscribers of TVing. As of May, the number of paid subscribers for TVING exceeded 1.5 million. In the commerce sector, one-off costs related to platform integration may be borne, but the seasonal peak season effect is expected to be effective.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com