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[Alpha Biz=(Chicago) Reporter Paul Lee] Kiwoom Securities Co. on the 24th raised its target share price to 250,000 won from the previous 230,000 won, saying there is room for a reduction in operating profit this year due to a natural drop in sales of "Battleground" this year and the risk of an economic slowdown in China.
Kiwoom Securities explained that the new target price is 22.5 times the price-earnings ratio (PER) to this year's expected earnings, which is neutral considering the risk of profit reduction and the possibility of success of major new products.
Overall, Kiwoom Securities estimates that Krafton's sales this year will fall 5% from the previous year. Krafton's operating profit is also expected to fall 5% year-on-year to 674.1 billion won.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
