[E-Daily Reporter Hyera Lee ] On the 14th, KIWOOM Securities maintained its rating of #SHIFT UP as its top pick in the gaming sector and its target price of 65,000 won, noting that the company’s corporate value is expected to rise through the release of new titles and the expansion of its multi-IP portfolio.

Kim Jin-gu, an analyst at KIWOOM Securities, stated in a report released that day, “In addition to ‘Project Spirit’ and ‘Stella Blade: Blood Rain,’ new projects based on major console IPs are currently in the planning stages,” adding, “Corporate value is expected to continue rising over the medium to long term through multi-IP strategies and genre diversification.”
Kim predicted that momentum for corporate value growth will gain full steam as information regarding Project Spirit is unveiled later this year. Kim predicted, “The game will inherit NIKKE’s strengths in storytelling and its relatively lenient monetization system,” adding, “By incorporating other genres into subculture, it has the potential to expand its user base and, by establishing diverse business models (BM), achieve revenue levels surpassing those of NIKKE.”
KIWOOM Securities estimated that SHIFT UP’s second-quarter consolidated revenue would be 55.4 billion won, with operating profit at 27.1 billion won, resulting in an operating profit margin of 48.9%. While total revenue for *NIKKE* is expected to decline by 0.9% year-over-year due to the base effect from its launch in China, global revenue excluding China is projected to increase by 15%.
Analyst Kim predicted, “Given the positive user response to the July summer update and the planned story expansion marking the game’s fourth anniversary, ‘NIKKE’s’ revenue momentum will be sustained this year,” adding, “Market expectations will gradually rise as the characters, genre, and gameplay of ‘Project Spirit’ are unveiled later this year.”