tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Strategic Acquisition Potential and Attractive Valuation Drive Buy Rating for Nexon Co.

Strategic Acquisition Potential and Attractive Valuation Drive Buy Rating for Nexon Co.

Jefferies analyst Atul Goyal maintained a Buy rating on NEXON Co (NEXOFResearch Report) today and set a price target of Yen3,210.00.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Atul Goyal has given his Buy rating due to a combination of factors that enhance Nexon Co.’s strategic and financial position. A significant development is the reported interest from Tencent to acquire Nexon, which aligns well with Tencent’s existing role as Nexon’s publishing partner in China. This potential acquisition is seen as a strategic fit, especially considering Nexon’s strong intellectual property portfolio and its solid net cash position.
Furthermore, Nexon’s current valuation is considered attractive, making it a compelling investment opportunity. The limited exit options for the founding family suggest that Tencent might be the most viable buyer, increasing the likelihood of the deal. As a result, Goyal has raised the price target to ¥3,200, reinforcing the Buy recommendation.

Disclaimer & DisclosureReport an Issue

1