LY Corp (Buy, TP: ¥585, +43%) Q4 FY23 Quick Take: Better than expected EBITDA guide and a bullish medium term EPS target; Line & PayPay linkage delayed
LY delivered yet another strong EBITDA beat, ahead of consensus by 16%. Against consensus expectations, FY24 guidance was in line for revenue while ahead on EBITDA. Encouragingly, the company has also laid out a bullish EPS target of more than ¥20 for FY25 (vs. ¥18.7 previously) which reflects the company’s focus on efficiency and profitability, and would be positive if the company can achieve it.
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