Kakao target price cut by 24% as AI progress slows
Updated
Updated · The Wall Street Journal · May 8
Kakao target price cut by 24% as AI progress slows
4 articles · Updated · The Wall Street Journal · May 8
Nomura lowered its target to 45,000 won and kept a neutral rating, while Kakao shares last closed 1.7% higher at 46,000 won in South Korea.
Analysts Angela Hong and Won Kang said partnerships with Google and OpenAI have yet to show clear gains in service quality or user engagement.
Kakao has added ChatGPT and its in-house Kanana tool to its messaging app, but Nomura said these AI features are unlikely to become a primary growth driver.
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