[Infostock Daily= Reporter An Hoe Hyun] eBEST Investment & Securities maintained its investment opinion 'Buy' and target stock price of 160,000 won on Com2uS on the 20th.
Com2uS is estimated to record sales of 127.9 billion won and operating profit of 23.1 billion won based on consolidated financial statements in the third quarter. It is down 13.3% and 39.4%, respectively, from the previous quarter.
"The estimate of reduced sales is based on worsening profitability due to increased royalties and marketing costs," the company explained.
"Marketing costs are expected to increase significantly due to TV advertisements for events and 'Summoners War: Lost Centuria' global CBT all mass marketing in November," the company said, adding, "The cost of royalties will increase despite the drop in sales due to IP payments to street fighter characters."
However, earnings are expected to increase again from the fourth quarter. It is estimated that sales will increase 16.0% and operating profit will increase 51.2% from the previous quarter. "Since the announcement of third-quarter earnings, we expect more expectations for a rebound in fourth-quarter earnings and new work momentum related to the Summoners War: Lost Centuria in February next year," the company explained.
Reporter An Hoe Hyun ahh@infostock.co.kr
