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[Alpha Biz=(Chicago) Reporter Paul Lee] NH Investment & Securities decided on the 13th that NCsoft needs to make efforts to revamp the company as a whole amid the sluggish performance of TL. The target stock price dropped from 280,000 won to 240,000 won, and the investment opinion 'buy' was maintained.
NCsoft's performance in the fourth quarter of last year was 437.7 billion won in sales and 3.9 billion won in operating profit, below the market consensus (13.1 billion won).
Despite a slight reflection of TL's sales, PC game sales recorded 92.3 billion won due to a drop in sales of existing games. Mobile game sales have boosted sales due to massive updates and promotional effects in the fourth quarter, but are expected to decline again in the first quarter of this year.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
