As of the afternoon of the 12th, SK Square (402340) is trading at 1,002,000 won, down 48,000 won from the previous trading day, a decline of 4.57%.

Despite the stock's fall, DB Securities maintained its 'Buy' investment opinion on SK Square and raised its target price to 1.5 million won.

NAV Estimated at 278 Trillion Won... Target Price Calculated by Applying 30% Discount Rate

DB Securities estimated SK Square's net asset value (NAV), reflecting changes in SK hynix's share price, at a total of 278 trillion won. Of this, the value attributable to SK hynix was assessed at 274 trillion won.

The target price calculation applied the 2028 target discount rate of 30%. In other words, the target price was raised to 1.5 million won by reflecting this discount rate on the value of its holdings.

Volatility Is High, But Shareholder Return Policy Is the Anchoring Investment Point

DB Securities noted that SK Square's volatility could be significant depending on SK hynix's share price. However, it evaluated the shareholder return policy as an investment point that provides stability, recommending continued holding.

This assessment presented both the value of the SK hynix stake and SK Square's shareholder return policy. As changes in SK hynix's share price affect the net asset value, the shareholder return policy was also cited as a key factor in investment decisions.

[This article was written based on the provided stock price information and the securities firm's assessment, and does not constitute investment advice. The securities firm's target price and outlook are subject to change. Investment decisions and the responsibility for them rest with the investor, and AI assistance was used in writing this article.]