KB Securities cuts Grand Korea Leisure target price to KRW10,000
KB Securities lowered its target price for Grand Korea Leisure shares from KRW13,000 to KRW10,000, citing uncertainty over investment and costs after the company renewed its Gangnam COEX casino lease for 10 years. Analyst Choi Yong-hyun called for capital spending to support longer-term growth ahead of MGM Osaka’s scheduled 2030 opening.
The revised target price and call for investment frame the financial and competitive risks facing Grand Korea Leisure.