Webtoon Entertainment shares jump after strong quarterly results, Disney partnership

Shares of online comics platform Webtoon Entertainment WBTN.O rise nearly 29% to $12.06 premarket

Co's Q2 revenue rise beats analyst expectations, per LSEG data

Announces strategic collaboration with Disney DIS.N to develop and promote comic content

J.P.Morgan raises PT to $14 from $9; maintains "neutral" stance

Notes strong revenue growth momentum heading into H2, and by company's collaboration with Disney

We are positive on WBTN’s global scale, its differentiated storytelling format, founder-led leadership, and diversified revenue streams across paid content, advertising, and intellectual property (IP) Adaptation - J.P. Morgan

Average rating from eight analysts is "buy"; median PT is $11 - data compiled by LSEG

YTD, up to last close, stock down 31%