Hana Securities assessed on the 16th that SHIFT UP lacks short-term momentum (potential for growth). However, they noted that if the stock price falls because of this, it could be considered an opportunity to increase their share of the company with a long-term market capitalization target of 5 trillion won. Therefore, the investment opinion remains "Buy" with the target price lowered to 86,000 won. SHIFT UP's closing price on the previous trading day was 56,100 won.
SHIFT UP, which went public in July last year, has exhausted its short-term momentum. On the 22nd of last month, the entry into China of "Goddess of Victory: Nikke" was realized, and on the 11th, "Stella Blade" was launched for PC.
Lee Joon-ho, a researcher at Hana Securities, said, "The enterprise value of SHIFT UP is formed at around 3.3 trillion won as some momentum supply has been reflected in the performance of Stella Blade for PC." He added, "The next new title is the sequel to Stella Blade, called 'Project Spirit,' expected to launch in 2027 or 2028, making the decline in interest in the second half seem inevitable."
He projected SHIFT UP's performance for this year to yield an operating revenue of 290.6 billion won and an operating profit of 211.2 billion won, representing increases of 29.7% and 38.3%, respectively, compared to the same period last year.
The researcher mentioned, "There is a need to reassess SHIFT UP's current position regardless of the momentum" and "SHIFT UP has the potential for expansion using its global IP power and a high chance of success for its subsequent pipelines."
He explained, "If the stock price falls due to the absence of short-term momentum, I consider it an opportunity to increase the share towards a long-term goal of a market capitalization of 5 trillion won."