Naver, KR7035420009

Korea Investment keeps KRW 360,000 target for Naver stock

Published on 10/20/2026 at 03:15 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

AI data center growth shapes the October 20, 2026 outlook. Naver stock faces KRW 3.51 trillion revenue and KRW 500 billion profit estimates.

Infrastructure timeline and estimates

Korea Investment kept its KRW 360,000 target and Buy rating on October 20, 2026.
Third-quarter revenue is forecast at KRW 3.51 trillion and operating profit at KRW 500.00 billion.
Naver stock was trading at KRW 179,300 on KRX on October 20, 2026 at 9:54 a.m. KST.
The AI Factory plan targets 55 megawatts in the first half of 2027 and 200 megawatts by 2028.

Naver, KR7035420009, Illustration mit AI erstellt.

Naver (ISIN KR7035420009) was trading at KRW 179,300 on KRX on October 20, 2026 at 9:54 a.m. KST. Chosunbiz reported that Korea Investment & Securities kept its Buy rating and set a KRW 360,000 target on October 20, 2026. The report ties the valuation case to Naver's artificial intelligence data center expansion.

Target rests on AI infrastructure

The target is ambitious against the latest KRX quote, but the broker said the data center opportunity is not fully reflected in Naver's valuation. It also warned that customer announcements have been delayed and that meaningful contributions may begin in 2028, making signed contracts a key test for the thesis.

That tension is visible in the earnings outlook. DigitalToday cited October 20, 2026 consensus estimates for third-quarter revenue of KRW 3.51 trillion, up 12.00 percent year over year, and operating profit of KRW 500.00 billion, down 12.40 percent. The comparison captures the central issue: sales growth continues while AI infrastructure and commerce spending weigh on earnings.

Three milestones shape the story

Chronology: on July 24, 2026, Naver presented cooperation with NVIDIA and Brookfield for the AI Factory; on October 19, 2026, Edaily reported that Naver would skip its annual DAN technology conference and described a USD 1 billion NVIDIA investment plus discussions on up to USD 9 billion of Brookfield infrastructure financing; on October 20, 2026, Chosunbiz reported the KRW 360,000 target.

What dates matter for execution

Edaily identified October 30, 2026 as the planned date for NVIDIA's investment payment, while Naver's AI Factory is scheduled to begin operations in the first half of 2027. The project is planned to start with 55 megawatts and expand to 200 megawatts by 2028, giving investors operating milestones beyond the target price.

Valuation meets execution risk

Naver's case now depends on converting infrastructure spending into customer contracts and revenue. The current quote, the lower third-quarter profit estimate and the longer-dated capacity plan point to a stock story driven by execution rather than a single near-term earnings surprise.