[Infostock Daily= Reporter An Hoe Hyun] Daishin Securities explained about Netmarble on the 16th that there is a possibility that short-term stock price volatility may increase depending on the stock price trend after the listing of Big Hit Entertainment. However, even considering the value of the stake, upside is limited in the current stock price, and the investment opinion selling(Underperform) and target stock price remained at 110,000 won.
The value of operating assets was estimated at 5.9 trillion won, the value of investment assets 'at 26% stake and 20% discount rate applied to the proper value of Big Hit Entertainment at 6.2 trillion won', 'the value of stakes in NCSOFT and Coway at 1.5 trillion won and 1.2 trillion won, respectively', and the value of shares in other investment assets such as Kakao Games and Kakao Bank were estimated at 409.9 billion won.
Also, the company explained that recent countries that prefer mobile MMORPG genres are limited to Korea and domestic mobile MMORPG competition is intensifying, and that they expect games using Marvel IP and 'Seven Knights Time Wanderer' to be released as a Nintendo switch rather than 'Seven Knights 2'.
It expects sales of 638.7 billion won and operating profit of 78.2 billion won in the third quarter, and operating profit is expected to meet the consensus of 79.9 billion won.
It analyzed that there were no special new box office hits, and that existing game sales are expected to drop naturally, and that 'BTS Universe Story', which was released on Sept. 24, will also have a limited contribution to its performance.
Reporter An Hoe Hyun ahh@infostock.co.kr
