Atul Goyal, an analyst from Jefferies, maintained the Hold rating on NEXON Co. The associated price target remains the same with Yen3,172.00.
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Atul Goyal has given his Hold rating due to a combination of factors influencing NEXON Co.’s performance. The company’s third-quarter revenue and operating profit were largely in line with expectations, with a significant year-over-year increase in MapleStory and strong performance from DNF PC. However, these gains were somewhat offset by weaker performance in the mobile segment.
Additionally, while the launch of ARC Raiders as a new intellectual property appears promising, the stock has already rallied significantly from ¥2000 to ¥3300 earlier this year. Despite a 41% increase in net profit due to foreign exchange gains and a doubled dividend, the current valuation suggests limited upside potential, justifying the Hold rating.
Goyal covers the Communication Services sector, focusing on stocks such as Nintendo Co, NEXON Co, and KONAMI HOLDINGS. According to TipRanks, Goyal has an average return of 13.9% and a 66.67% success rate on recommended stocks.
In another report released on November 1, TR | OpenAI – 4o also downgraded the stock to a Hold with a Yen3,449.00 price target.