Korea Investment & Securities said on the 3rd that NCSoft's stock price was significantly undervalued, maintaining its "buy" opinion and raising its target price to 1.07 million won.
Korea Investment & Securities said, "Lineage 2M will be released in 29 countries in North America and Europe on December 2nd, so we can also expect Lineage 2M to improve its performance.".
"Next year, we can expect to launch a new product applied with P2E and expand its value accordingly," Korea Investment & Securities said. "The current stock price is in an undervalued state that does not reflect the increase in profits from the success of Lineage W.".
While NCsoft Lineage W has been released for a month, it is still ranked No. 1 in sales in key markets where Lineage IPs such as Korea and Taiwan are highly influential.
In Japan, which is relatively barren of MMORPG in Korea, it ranks 23rd in sales based on Google Play. In addition, traffic and the number of contacts in several countries have been on a steady rise.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
