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[Alpha Biz=(Chicago) Reporter Paul Lee] Daishin Securities raised its target stock price by 26% to 290,000 won from the previous 230,000 won, evaluating that KRAFTON will continue to grow in sales in the first quarter of this year with an earning surprise in the fourth quarter. The investment opinion remained 'buy'
"KRAFTON sales in the fourth quarter rose 13% year-on-year to 534.6 billion won and operating profit rose 30% to 164.5 billion won over the same period," Daishin Securities said on the 13th. "This is more than 26% and 49%, respectively."
"The rebound in sales of PUBG (a subsidiary that develops and provides Battlegrounds) and high growth in sales in India contributed to the performance surprise even during the off-season," said Daishin Securities Co.
Also, PUBG's mobile sales grew 11% from the previous quarter, and PUBG's global sales also increased 15% over the same period.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
