[Click eStock] NCSoft Begins Early Reflection of New Game Expectations

'Blade and Soul 2' Scheduled for Release in Q1 Next Year
Lineage 2M Expected to Launch in Taiwan in February... Multiple New Titles Momentum
"Q4 Earnings May Slow, but New Releases' Expectations Offset"

[Asia Economy Reporter Minwoo Lee] There is a forecast that expectations for NCSoft's stock price will be reflected in advance ahead of the launch of Lineage 2M in Taiwan and the release of the new title 'Blade & Soul 2.'

On the 18th, Daishin Securities maintained a 'Buy' rating on NCSoft and raised the target price by about 3% to 980,000 KRW. This is based on the judgment that the momentum for stock price increase is growing as the new releases approach.

The most anticipated new title, 'Blade & Soul 2,' and the main revenue source, Lineage 2M's launch in Taiwan, are both scheduled for the first quarter of next year. Mina Lee, a researcher at Daishin Securities, said, "The Lineage 2M Taiwan launch is expected in February next year, and the 'Blade & Soul 2' release is expected in March next year," adding, "Considering that pre-registration usually takes 2 to 3 months, 'Blade & Soul 2' will likely start pre-registration along with a showcase in January next year."

In addition, new titles such as Aion 2 and Project TL are planned to be released next year. Since NCSoft recently revealed in its earnings conference call that it plans to have a tighter schedule for new releases compared to the past, the release schedule is expected to be more concrete.

When a new release is imminent, stock price volatility may increase. The researcher analyzed, "The stock price has already reflected expectations for the success of the new titles, so the risk of failure is a burden and momentum may temporarily disappear," adding, "In the long term, as new title sales stabilize, a stepwise earnings growth and upward stock price trend are expected."

Meanwhile, NCSoft's sales for the fourth quarter of this year are estimated to be 534 billion KRW, the same as the fourth quarter of last year. Operating profit is expected to increase by 26% during the same period to 178 billion KRW. Due to the intentional reduction in promotions for Lineage M and the stabilization of Lineage 2M sales decline, performance is expected to be slightly sluggish compared to the previous quarter. However, this was already anticipated. The researcher predicted, "If 'Blade & Soul 2' is unveiled to the public in early Q1 next year, the excitement for the new title will offset the temporary earnings slump."

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