[Featured Stock] SM Rises on aespa's Return Despite Target Price Downgrade

SM Entertainment (SM) is on the rise following the news of girl group aespa's comeback, despite a target price downgrade from a securities firm.

As of 11:40 AM on the 21st, SM is trading at 68,700 KRW, up 1.93% (1,300 KRW) compared to the previous trading day.

SM announced that aespa will release their new song "Whiplash" at 6 PM today. The title track "Supernova" from their first full-length album released in May previously held the record for the longest time at number one on the domestic music platform Melon’s weekly chart, staying at the top for 15 weeks.

Meanwhile, Mirae Asset Securities downgraded SM’s target price from 110,000 KRW to 94,000 KRW, citing poor performance expected this year including the third quarter.