JYP Entertainment is facing a broad reset in analyst expectations after a second-quarter earnings miss and growing uncertainty around two of its biggest acts, TWICE and Stray Kids. On the 15th, the securities industry said iM Securities cut its target price by 25% to 60,000 won from 80,000 won while keeping a "Buy" rating, and other brokerages also lowered their targets to between 58,000 won and 69,000 won. Analysts said the main risks are the contract renewal season for TWICE, where some members' individual contract changes have emerged, and the sequential mandatory military service expected for Stray Kids members within the next two years. JYP's second-quarter consolidated operating profit fell 41.4% year over year to 31 billion won, about 18% below market consensus, while revenue dropped 15.1% to 183.1 billion won and net profit fell 40.3% to 21.7 billion won. Shares closed at 41,050 won as of the previous day after trading in the 70,000-won range early this year, extending losses as weak earnings and artist-related uncertainty added pressure. Analysts said the broader shift of investment money into large-cap semiconductor names such as Samsung Electronics and SK hynix has also weighed on entertainment stocks. Some still see support from Stray Kids' growth in South America and from intellectual property businesses such as character pop-ups and licensing, while brokerages say a rebound will depend on how quickly JYP can offset any gap left by flagship artists and build new revenue from younger groups and IP.