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The Korea Herald
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THE INVESTOR
March 29, 2024

Stocks & Bonds

[EQUITIES] ‘DoubleUGames’ outlook looks rosy’

  • PUBLISHED :March 21, 2018 - 10:06
  • UPDATED :March 21, 2018 - 10:06
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[THE INVESTOR] DoubleUGames’ earnings will grow and expand overseas, said Hanwha Investment and Securities on March 21, maintaining a “buy” recommendation and raising the target price to 100,000 won (US$93.34) from 81,000 won.




Propelled by strong upward momentum of its game “Double Down Casino,” earnings in the first quarter will reach a record high, with 116.8 billion won revenue and 32.7 billion won operating profit, said analyst Kim So-hye adding that its revenue will continue to grow steadily from stabilizing the servers and updating contents. 

The analyst raised the operating profit estimates of this year and next year up 8 percent and 10 percent respectively, reflecting the boost from acquisition of US social casino game developer DDI last year. 

It has also partnered with a company in Taiwan and the outcome will be shown from the second quarter, she noted. 

Although its stock price has leapt 36 percent from the beginning of this year its valuation, at 12 times its price-earnings ratio, is not burdensome, said Kim. 

By Hwang You-mee (glamazon@heraldcorp.com)

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