[Click eStock] "Com2uS, Earnings Improvement and New Release Momentum... Target Price Up"

Daishin Securities on the 8th raised the target price for Com2uS by 10% to 55,000 KRW, expecting the stock price to reflect both improved annual performance and new game momentum.

Lee Ji-eun, a researcher at Daishin Securities, stated in the report that "the third-quarter results are seen as confirming Com2uS's baseline profit level during a period without new releases and peak season effects," and forecasted that "in the fourth quarter, entering the peak season for Summoners War, the game's standalone profit will grow by 58% compared to the previous quarter."

Researcher Lee added, "Com2uS plans to release the Japanese professional baseball mobile game Pro Baseball Rising in the first quarter of next year, having started pre-registrations on the 30th of last month, with full-scale marketing beginning from the end of the year," and analyzed that "Com2uS's baseball game revenue is estimated at approximately 130 billion KRW in 2022 and about 160 billion KRW in 2023."

He also explained, "While the revenue growth in 2022 and 2023 reflected the effects of new releases in the baseball lineup, the 2024 baseball lineup is expected to achieve about 190 billion KRW in revenue, a 20% increase from the previous year, even without additional new releases," and added, "Along with steady growth in the existing MLB and KBO lineups, the expansion of the NPB lineup is expected to drive baseball revenue growth of over 30% in 2025."

He continued, "With the improvement in subsidiary business performance reflected in 2025, a significant increase in annual performance is anticipated, and the stock price is expected to reflect the momentum from new releases as well."

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