[EQUITIES] ‘CJ E&M’s outlook looks bright’
[THE INVESTOR] CJ E&M stocks are being adjusted in tandem with the box office success of its movie “The Battleship Island,” and it will easily make past the break-even point, said Daishin Securities on Aug. 10, maintaining a “buy” recommendation and 91,000 won (US$79.60) target price.
The securities firm estimated 6.6 million audience for the movie and it already recorded 6.26 million as of Aug. 8.
Its cable channel tvN had several hit programs that cushioned the struggle of major dramas, and revenue from digital advertising and content sales also increased, said analyst Kim Hoi-jae.
Its stock price initially suffered as the movie’s budget was high and investors were skeptical of the box office outcome, but now its earnings and stock price outlook are bright, said the analyst.
By Hwang You-mee (firstname.lastname@example.org)