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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hyundai Motor Securities decided on the 20th that Com2uS will be able to grow outward with three new publications this year, but it will be difficult to cover the media deficit. The target stock price dropped from 56,000 won to 51,000 won and suggested 'neutral' investment opinion.
Com2uS recorded 164.5 billion won in sales and 17.6 billion won in operating losses in the fourth quarter of last year, a bigger deficit than the consensus. The drop in sales is attributable to a sharp drop in the media sector due to the lack of lineups.
Game sales in the fourth quarter amounted to 122.4 billion won and annual sales in 2023 amounted to 547.8 billion won, achieving double-digit growth by makeup the slowdown in RPG growth into high growth in sports games. However, as the execution of marketing expenses increased due to the increase in the release of new products, operating profit was inevitable compared to the previous year.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
