(News Bulletin 247) – Invest Securities reiterates its ‘buy’ opinion on Nacon with an adjusted price target of 3.5 to 3.8 euros, despite the lowering of its 2023-24 estimates, pointing to a ‘value aspect and a speculative interest which should not be completely concealed’.
‘The investments (organic and acquisitions) made since the IPO have indeed made it possible to increase game development, but the commercial results are far from being there, which weighs on the 2022-23 results’, recognizes the analyst.
According to him, the return of momentum to the title and the rebound in results will depend on the critical and commercial success of the Robocop and Gangs of Sherwood games, on which Nacon management is now placing its expectations and hopes for an upturn in 2023-24.
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