April 26, 2024

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[THE INVESTOR] Com2uS has entered an upturn in terms of valuation on the back of solid revenue from existing games and rising expectations for new games, said Shinhan Investment on May 28, raising the target price to 235,000 won (US$218.89) from 200,000 won.

“Skylanders Mobile” will be released in summer, after an undisclosed test in the second quarter. Like the proven hit “Summoners War,” it is based on global intellectual property and is very likely to be a success. Up until its launch in August its stock price will reflect growing expectations, said analyst Lee Mun-jong.

As revenue from existing games remains strong it is positive. “Summoners War” is maintaining over 1 billion won daily revenue, and in fourth quarter a massively multiplayer online version will be rolled out along with a number of new games including “Dancevil,” “Buddy Crush” and “Heroes War 2,” bolstering its momentum, said the analyst maintaining a “buy” recommendation. 

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