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Investing.com - CLSA upgraded NCsoft Corp (KS:036570) from Hold to Outperform and dramatically raised its price target to KRW280,000 from KRW14,500, citing stabilization in legacy mobile games and promising development of Aion 2.
The South Korean gaming company delivered its first year-over-year revenue growth in nearly three years, with its legacy Lineage mobile games showing signs of stabilizing, according to CLSA.
CLSA expressed particular encouragement regarding Aion 2’s development progress and positive community feedback from both the focus-group test conducted in June and the recent live showcase in August.
The research firm expects NCsoft’s legacy intellectual property to provide additional support through regional expansion and spin-offs through 2026.
The significant price target increase reflects CLSA’s heightened expectations for Aion 2 and improved outlook for the company’s overall game portfolio.
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