In a report released today, Atul Goyal from Jefferies maintained a Buy rating on NEXON Co (NEXOF – Research Report), with a price target of Yen2,867.00.
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Atul Goyal’s rating is based on Nexon Co.’s recent financial performance and future outlook. Despite a weaker than expected fourth quarter, where operating profits were slightly below the lowest guidance, the company has projected a more optimistic first quarter with a 12% year-over-year increase in operating profits. This projection suggests a positive turnaround and indicates potential growth.
Nexon Co. has also announced an accelerated share buyback program, which reflects management’s confidence in the company’s future prospects and is likely to enhance shareholder value. Additionally, key segments like DNFm are driving earnings growth, and there are signs of recovery in other areas such as the MS (PC) segment. The stock is trading at a price-to-earnings ratio of less than 14, making it an attractive buy opportunity according to Goyal’s analysis.