[THE INVESTOR] NCSoft has postponed the release of a new game, said Kyobo Securities on May 15, lowering the target price to 430,000 won (US$401.04) from 500,000 won while maintaining a “buy” recommendation.
“Lineage M” has maintained daily revenue of 2.9 billion won despite the launch of a rival game, and the game developer’s revenue in the first quarter surged 98 percent on-year to 485.2 billion won and operating profit by 570 percent to 208.3 billion won, said analyst Park Geon-yeong.
Considering that newly introduced MMORPGS are suffering from fast exhaustion of contents, steady earnings from “Lineage M” is setting it apart, but it is regrettable that roll-out of new games has been delayed, said the analyst.
“Blade and Soul 2” will be released next year, pushed back from this year, along with “Lineage 2 M”, and due to the lack of momentum its earnings this year will slow down, forecast Park.
By Hwang You-mee (email@example.com