NCSOFT, Earnings surprise is possible by 2023…Target stock price increase by 38.9%(Mirae Asset Daewoo)
NCSOFT, Earnings surprise is possible by 2023…Target stock price increase by 38.9%(Mirae Asset Daewoo)
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  • 승인 2021.02.25 17:34
  • 최종수정 2021.02.25 16:58
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엔씨소프트 CI
NCSOFT CI

[Infostock Daily= Reporter An Hoe Hyun] On the 25th, Mirae Asset Daewoo raised its target stock price by 38.9%(490,000 won) from 1.26 million won to 1.75 million won for NCSOFT, saying that an earnings surprise will be possible every quarter by 2023. The investment opinion remained 'Buy'.

According to Mirae Asset Daewoo, seven of the eight new games introduced since the founding of NCSOFT have been successful. The box office success rate is 87.5%. NCSOFT plans to launch Trickster M, Lineage 2M(Japan and Taiwan) and H3 in the first quarter. Blade & Soul 2, which had been delayed several times, also began pre-booking on the 9th. 

In addition to various new lineups, it is expected to enter the earnings growth period at least by 2023. "Sales this year and next year are expected to increase 37.6% and 46.4%, respectively, compared to the previous year," the company predicted, adding, "The operating profit ratio, which was 34.1% last year, will improve to 34.7% and 38.9% this year and next year, respectively."

"Interest in the cyber world 'Metaverse' is growing, and MMORPG(Massive Multiplayer Online Role Playing Game) is the original Metaverse," the company explained, adding, "It is possible to start a new theme."

It expects NCSOFT to have the best performance and new works momentum among global game companies, and explained that the target stock price was calculated at 1.75 million won by substituting PER 30 times for the expected EPS in 2022.

Reporter An Hoe Hyun ahh@infostock.co.kr


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