[Featured Stock] Naver Hits New High for Two Consecutive Days

[Asia Economy Reporter Song Hwajeong] Naver (NAVER) continued its upward trend for the second day, setting a new record high again within a day.

As of 9:46 AM on the 24th, Naver was trading at 428,000 KRW, up 45,000 KRW (1.06%) from the previous day. During the session, it rose to 436,000 KRW, marking a new 52-week high again within a day. Its market capitalization exceeded 70 trillion KRW for the first time ever.

Choi Gwansoon, a researcher at SK Securities, said, "Although Naver was surpassed in market capitalization by Kakao this year due to delayed profitability improvement and timing differences in highlighting subsidiary values, its high sales growth rate is maintained this year, and profitability improvement is expected from next year." He added, "Although the timing of initial public offerings (IPOs) of major subsidiaries is unclear, the increase in corporate value is certain, so it is only a matter of timing; ultimately, the rise in subsidiary values will drive Naver's stock price increase." SK Securities raised Naver's target price by 18.2%, from the previous 440,000 KRW to 520,000 KRW.