0402 GMT - Naver's share price appears to have room to rise despite its recent rally, HSBC analyst Junhyun Kim writes in a note. The South Korean internet-platform giant's stock has surged 39% since a low in September, outperforming the benchmark Kospi's 1% gain over the period, Kim notes. Still, its solid gross-merchandise-value growth and new commission-fee structure support the stock, Kim says. Naver's plan to charge fees for all transactions on its Smart Store and Brand Store platforms from June can generate a commission-revenue increase, he adds. HSBC raises its target on the stock to KRW300,000 from KRW290,000 and keeps a buy rating. Shares are 0.7% higher at KRW214,000. (kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
March 12, 2025 00:02 ET (04:02 GMT)
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