Hyundai Motor Securities noted on the 28th that HYBE's concert attendance is expected to significantly increase in the third quarter, leading to an increase in revenue. The investment opinion remains 'buy' with a target stock price of 350,000 won. The closing price of HYBE the previous day was 295,500 won.
Kim Hyun-yong, a researcher at Hyundai Motor Securities, projected that HYBE's concert attendance would increase by 123% year-on-year to 1.5 million in the third quarter of this year. In particular, as concert attendance surges, revenue is expected to increase by 45% compared to the same period last year and by 9% compared to the previous quarter.
Kim noted, "In particular, the significant contributions from key artists such as ENHYPEN, BTS Jin, SEVENTEEN, TXT, and LE SSERAFIM, which bolstered attendance, is positive," adding, "In terms of operating profit, considering the expenses for the debut of KORTIS, two projects in South America, and the Japanese launch of DRIMAGE, the increase in one-time expenses is expected to be between 10 billion and 15 billion won compared to the previous quarter, which may lead to a smaller than expected increase compared to the previous quarter."
Anticipation for the five-member rookie boy group KORTIS, debuting on the 8th of next month under the Big Hit label, was also expressed.
Kim stated, "Some video content, including the music video for the title track, was released starting on the 18th, with a total YouTube view count surpassing 16 million," and added, "The production of music videos for all tracks and the participation of all members in album production show a stepped-up approach compared to existing K-pop artists."