Jefferies analyst Atul Goyal maintained a Buy rating on NEXON Co (NEXOF – Research Report) today and set a price target of Yen3,210.00.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
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.