[Alpha Biz=(Chicago) Reporter Paul Lee] Daol Investment & Securities raised its target price from 290,000 won to 320,000 won by raising its profit forecast for Krafton (259960) on the 28th. However, it recommended a conservative response to the new momentum.

"The scope of expectations for this year's sales growth are still cautious, but we will raise our profit forecast in consideration of our willingness to control costs," said Daol Investment & Securities Co. "We will raise our proper stock price to 320,000 won by further raising our net earnings per share (EPS) forecast to reflect the purchase and incineration of our own shares."

"Sales in the first quarter of this year will rise 4 percent year-on-year to 559.2 billion won and operating profit will fall 15 percent to 240.7 billion won, which will meet the consensus," Daol Investment & Securities said. "We have confirmed the possibility that expenses spent on developing large-scale new products will continue to be controlled and that the low level of labor costs and commission fees will be maintained."

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