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Investing.com - Goldman Sachs has reduced its price target on SHIFT UP Corp (KS:462870) to KRW64,000.00 from KRW71,000.00 while maintaining a Buy rating on the stock.
The research firm cited an adjustment to the game release schedule as the primary reason for the price target reduction, which led to cuts in its 2026 operating profit and net profit forecasts.
Goldman Sachs noted that near-term share price momentum could remain subdued due to the lack of imminent new game releases from the company.
Despite the near-term caution, the firm remains positive on SHIFT UP’s long-term prospects, expecting strong earnings momentum in 2027 with new releases and citing the company’s strong track record in producing successful games.
The research firm also highlighted SHIFT UP’s reasonable valuation, noting that the stock trades at 15x 2025E/26E average P/E compared to the global peer average of 25.4x.
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