BUZZ-Webtoon Entertainment shares jump after strong quarterly results, Disney partnership
Webtoon Entertainment shares surged nearly 29% to $12.06 following strong Q2 results that exceeded analyst expectations. The company announced a strategic partnership with Disney to develop comic content. J.P. Morgan raised its price target to $14 from $9 while maintaining a "neutral" stance, noting strong revenue growth momentum. The average rating from eight analysts is "buy" with a median price target of $11. Year-to-date, the stock is down 31%.
Shares of online comics platform Webtoon Entertainment (WBTN.O) rise nearly 29% to $12.06 premarket
Co’s Q2 revenue rise beats analyst expectations, per LSEG data
Announces strategic collaboration with Disney (DIS.N) to develop and promote comic content
J.P.Morgan raises PT to $14 from $9; maintains “neutral” stance
Notes strong revenue growth momentum heading into H2, and by company’s collaboration with Disney
We are positive on WBTN’s global scale, its differentiated storytelling format, founder-led leadership, and diversified revenue streams across paid content, advertising, and intellectual property (IP) Adaptation - J.P. Morgan
Average rating from eight analysts is “buy”; median PT is $11 - data compiled by LSEG
YTD, up to last close, stock down 31%
