[Infostock Daily= Reporter An Hoe Hyun] NH Investment & Securities said on the 11th that NCSOFT will be attracted to the relatively low valuation of Kakao Games, which was listed on the previous day, maintaining a 'BUY' rating and a target stock price of 1.27 million won.
NH Investment & Securities estimates that NCSOFT's current share price is lower than its corporate value. "Despite the fact that companies that make content such as games, dramas and movies are generally more valued, NCSOFT is undervalued in 2021, compared to Netmarble 54.7 times and Kakao Games 51.1 times, with an estimated PER of 16.3 times."
As 'Blade & Soul 2'(B&S 2) is expected to be released in December, the stock price is expected to rise accordingly. "B&S 2 is expected to be released in December, and the teaser site will be released and pre-booked in October," the company said, adding, "According to B&S 2 performance, operating profit is expected to rise 50% year-on-year to 1.43 trillion won next year, and long-term growth cycle will continue, starting with the bottom of operating profit last year."
Reporter An Hoe Hyun ahh@infostock.co.kr
