Naver's Commerce Segment Likely to Get Valuation Boost From New Initiatives -- Market Talk

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Naver's Commerce Segment Likely to Get Valuation Boost From New Initiatives -- Market Talk

Dow Jones11-21

0138 GMT - Naver's commerce segment is likely to get a valuation boost from new initiatives, HSBC analyst Junhyun Kim says. He expects the South Korean internet platform's gross merchandise value to bounce back to double-digit percentage growth next year. He raises his 2025 GMV estimate for the segment by 11% to 16.817 trillion won. He is also positive about Naver's plan to launch a separate "Plus Store" app, targeted for an improved customer experience, as well as its plan to diversify its shopping delivery services. HSBC raises its target price for the stock by 7.4% to 290,000 won and maintains a buy rating. Shares are 1.0% lower at 191,100 won. (kwanwoo.jun@wsj.com)

(END) Dow Jones Newswires

November 20, 2024 20:38 ET (01:38 GMT)

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