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Investing.com - Morgan Stanley (NYSE:MS) upgraded Konami Holdings Corp. (9766:JP) (OTC:KNMCY) from Equalweight to Overweight and raised its price target to JPY26,000.00 from JPY17,000.00.
The upgrade comes as Konami prepares for the November launch of Momotetsu 2, which Morgan Stanley believes will drive higher unit sales for the Japanese gaming company.
Morgan Stanley noted that the upcoming game release signals "materially faster cadence of console game launches" for Konami, representing a shift in the company’s development and release strategy.
The investment bank expects this accelerated release schedule to strengthen Konami’s position in the console gaming market, where the company has historically maintained a significant presence with franchises like Metal Gear, Pro Evolution Soccer, and Silent Hill.
The firm believes these developments will help solidify Konami’s "premium valuation" in the market, justifying the substantial 53% increase in its price target for the gaming company.
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