[Edaily Kwon Oh Seok Reporter] NH INVESTMENT & SECURITIES announced on the 7th that it is maintaining its “Buy” rating on Nasmedia Co., Ltd.(089600)and raising its target price from 14,000 won to 16,000 won.

Lee Hwa-jeong, an analyst at NH INVESTMENT & SECURITIES, stated, “The company is an operator with differentiated earnings stability achieved through the expansion of new media channels (OTT and outdoor advertising) and the diversification of its business model (CPS) in line with shifts in industry hegemony,” adding, “Efforts to enhance shareholder value are also positive.” Previously, in August, the company retired 1.4% of its previously acquired treasury stock.
The analyst noted, “As the company handles advertising for all three leading OTT platforms (Netflix, Coupang Play, and TVING), it possesses differentiated inventory, such as media package products,” and added, “The company’s position as an advertising medium for major OTT platforms is strengthening, and it is expected to continue benefiting from growth in advertising revenue driven by market expansion.”
The analyst further explained, “Amid sustained robust demand from core e-commerce partners, profitability is showing marked improvement thanks to enhanced operational efficiency resulting from the advancement of AI and data-driven platforms.”
Gross profit for the first half of the year was 58.7 billion won (up 18% year-over-year), and operating profit was 11.1 billion won (up 121%), both significantly exceeding expectations. The analyst added, “This growth was driven by strong OTT advertising and the addition of new outdoor advertising media (the Gangnam Station Underground Shopping Mall), combined with improved operational efficiency,” and noted, “As this trend is expected to continue in the second half of the year, we forecast gross profit of 72 billion won (+6%) and operating profit of 13.4 billion won (+84%).”