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[Apha Biz=(Chicago) Reporter Paul Lee] Naver's stock price has rebounded with its artificial intelligence (AI) model "HyperClova X," which is scheduled to be announced on the 24th.
Stock markets expect to develop search and B2B solution businesses based on generative AI in various ways.
According to the Korea Exchange on the 7th, Naver shares closed at 234,500 won, up 4.92% (11,000 won) from the previous trading day. Stock prices rose to 241,500 won during the day, exceeding 240,000 won for the first time in a long time.
Naver is on the rebound after hitting the bottom of the second quarter. The stock price, which rose to 271,000 won in August last year, fell to 180,000 won at the end of June this year. It has recovered to 230,000 won due to positive performance in the second quarter and expectations for the launch of AI services.
Stock markets have raised their target stock prices one after another, positively evaluating Naver's second-quarter earnings improvement. Especially, 'HyperClova X', which is scheduled to be released on the 24th, was pointed out as a key factor in enhancing the company's competitiveness.
NH Investment & Securities raised its target price to 310,000 won, saying, "It will be a place to reaffirm its influence as a platform through synergy with existing businesses such as commerce, content and advertising as well as Naver's competitiveness in the AI market."
Mirae Asset Securities and Shinhan Investment & Securities also raised their prices from 280,000 won to 290,000 won and 200,000 won, respectively. DB Financial Investment & Securities also rose from 276,000 won to 293,000 won.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
