"NCSoft Undervalued Compared to Competitors"

[Asia Economy Reporter Koh Hyung-kwang] NH Investment & Securities on the 13th presented a target price of 1.27 million KRW for NCSOFT, stating that its valuation will be highlighted due to the listing of Kakao Games and the stock price rise of Netmarble.

Ahn Jae-min, a researcher at NH Investment & Securities, predicted, "The launch momentum of 'Blade & Soul 2' is imminent, and with the stock price increases of competitors Netmarble and Kakao Games, NCSOFT's valuation will be further emphasized."

He added, "Although companies that create content generally receive higher valuations, NCSOFT's expected PER for next year is 16.3 times, which is considerably undervalued compared to Netmarble's 54.7 times and Kakao Games' 51.1 times."

Researcher Ahn said, "'Blade & Soul 2,' the highly anticipated title, is expected to be released in December," and "The teaser site will be unveiled and pre-registration will begin in October," noting that "this is a period when expectations for the new release are being highlighted again."

He also diagnosed, "The recent stock price adjustment stems from concerns over the decline in revenue of Lineage 2M, but when compared to the revenue decline speed of Lineage M, there is no significant difference, and it is a natural phenomenon over time since the release, so it has been excessively reflected."

This content was produced with the assistance of AI translation services.