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Investing.com - Morgan Stanley (NYSE:MS) upgraded Konami Holdings Corp. (9766:JP) (OTC:KNMCY) stock rating from Equalweight to Overweight on Monday, while significantly raising its price target to JPY26,000.00 from JPY17,000.00.
The upgrade comes ahead of 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.
Morgan Stanley concluded that these developments should help "solidify Konami’s premium valuation" in the market, suggesting the company’s growth trajectory justifies a higher multiple compared to industry peers.
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