Sun Valley Gold sells Vista Gold (VGZ) shares worth $2.16 million
Investing.com - JPMorgan has downgraded SHIFT UP Corp (KS:462870) from Overweight to Neutral, while significantly reducing its price target to KRW40,000.00 from KRW70,000.00.
The South Korean game developer reported third-quarter operating profit of KRW50 billion, representing a 39% year-over-year increase, which slightly exceeded recently lowered consensus estimates following NIKKE China’s underperformance.
NIKKE Global’s revenue showed resilience with an 11% year-over-year rebound, demonstrating solid product lifecycle management as the game approaches its third anniversary with only a 4% year-over-year revenue decline for the first three quarters of 2025.
Stellar Blade also maintained strong momentum with 23% year-over-year revenue growth in the third quarter, while the company’s estimated KRW680 billion net cash position for 2025 positions it well for potential shareholder returns in 2026.
JPMorgan cited delayed game launch timelines as the primary reason for the downgrade, with the Stellar Blade sequel now expected in the fourth quarter of 2027 instead of the first quarter of 2027, and the next major IP (Spirit) anticipated in late 2027 or the first half of 2028.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.