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| (사진= 에스엠 홈페이지) |
[Alpha Biz=(Chicago) Reporter Paul Lee] Hana Securities predicted on the 25th that SM will record the biggest profit growth rate among its agencies based on the termination of the Like Planning contract and the normalization of profits of its subsidiaries. In response, the company maintained its investment opinion of "buy" and target stock price of 120,000 won. The closing price of the previous trading day is 83,100 won.
Hana Securities analyzed, "We expect a profit growth rate of 63%, the highest among agencies this year."
Hana Securities cited the resolution of unreasonable issues as a favorable factor. SM has accepted 12 governance improvement measures proposed by Alliance Partners Asset Management, which has continued its campaign to enhance shareholder value. In the post-SM era without general producer Lee Soo-man, the problem is expected to inevitably lead to improved performance and valuation as the board of directors resolves the problem. Analysts say that multi-production systems, SM brand marketing (SMBM), structural improvement, and the sale of non-core businesses are expected.
Hana Securities predicted, "Unreasonable structural improvement in which the largest shareholder holds an additional stake in SM subsidiaries that carry out core businesses such as SMBM, and the merger and sale of non-core businesses and 40 affiliates that have nothing to do with the main business such as wineries will be carried out."
Alphabiz Reporter Paul Lee(hoondork@alphabiz.co.kr)
