[Alpha Biz=(Chicago) Reporter Paul Lee] Eugene Investment & Securities said on the 25th that future growth is expected, with DoubleU Games recently acquiring Swedish gaming company "Supernation" to seek growth. The investment opinion was 'buy' and the target price was 61,000 won. The closing price of the previous trading day is 49,150 won.
We expect DoubleU Games's fourth-quarter sales to grow 5.9% year-on-year to 159.7 billion won and operating profit to rise 9.9% year-on-year to 47.1 billion won, Eugene Investment & Securities said in a report. "It is expected to be similar to the third quarter in overall sales and costs to meet the market consensus of 48.4 billion won."
Eugene Investment & Securities said, "The final acquisition amount will be finalized when the settlement is completed in 2022 and will be incorporated as a subsidiary after the completion of the acquisition in the third quarter of this year," adding, "Supernation's cumulative sales in the third quarter of last year to $18.3 million (about 22.8 billion won), but its contribution to operating profit is still expected to be minimal."
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