(CercleFinance.com) – Invest Securities maintains its buy rating on Nacon shares with a price target raised from 3.4 to 3.8 euros.
The analyst believes that the results for the first half 23/24, excluding exceptional items, are in line with his expectations and ‘reflect weak editorial activity and the commercial failure of Gollum’.
Invest Securities believes that the 2nd half should be ‘much more enjoyable’, driven by Robocop (biggest commercial success in Nacon’s history), but also a confirmed line-up rich in several titles (Gangs of Sherwood, Cricket 24, Asterix & Obelix).
‘If the contribution of Test Drive will be marginal as we anticipated for 2023/24, this game which represents the largest development budget will contribute to the 2024/25 turnover, in the same way as other promising games like Hell is Us or GreedFall 2’, concludes the broker.
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