IBK Securities said on Jan. 14 that it raised its earnings estimates for HYBE to reflect the scale of BTS' world tour. It kept a "Buy" rating and lifted the target price to 420,000 won from 370,000 won. HYBE closed at 332,000 won the previous day.
Kim Yu-hyeok, an analyst at IBK Securities, said, "BTS plans to hold 79 shows in 35 cities across 23 countries through the first half of next year, starting with the third show at Goyang Stadium on Apr. 9," adding, "We expect the tour to draw about 4.5 million attendees in total."
He added, "This far exceeds the previously expected attendance estimate (3 million to 3.5 million)," and "Average ticket price (ATP) and sponsorship revenue are also likely to beat expectations."
IBK Securities, reflecting the scale of the BTS world tour, presented HYBE's revenue this year at 3.851 trillion won and operating profit at 512 billion won. On an operating-profit basis, that is more than 10 times a year earlier.