According to Goldman Sachs, Webtoon Entertainment could be a good investment for investors looking for exposure to the creator economy. The bank has a buy recommendation on the stock and has a 12-month target price of $62. This projection implies a staggering upside of 204%. Webtoon Entertainment went public last month and traded at $21 a share. WBTN 1M Mountain WBTN 1 Month Chart “We see Webtoon as a positive exposure to several long-term growth themes in the webcomic market and the creator economy,” Goldman analyst Eric Sheridan wrote. “At current levels, the risk/reward for WBTN stock is tilted to the positive, and its expansion into North America represents a big opportunity.” Looking forward, Sheridan sees three main drivers for the stock. First, he sees Webtoon as having exposure to several markets, including the $130 billion paid content market opportunity, the $477 billion advertising space, and the $900 billion global entertainment industry. Sheridan also sees webtoon revenue growing 19% annually through 2029 to roughly $3.5 billion. This will be driven by continued growth in paid content, accelerating advertising revenue, and the adaptation of intellectual property to various mediums such as television shows and movies. The analyst is also optimistic that the entertainment company will be able to achieve cost leverage and expand margins going forward. “We forecast adjusted EBITDA margins to expand steadily from approximately 3% in 2024 to approximately 14% in 2026 and approximately 17% in 2029 as the company benefits from mix-shifting dynamics, optimized revenue-sharing agreements, and the relatively fixed nature of R&D and G&A costs,” Sheridan wrote.