TOP PAGE
ENGLISH
JAPANESE
|
CONNECT WITH US:
Home
About
Services
Contact
Log in
*
Home
Press release
Nov 26, 2014 19:48 JST
Nomura says Buy CMGE on Rich IP Resources and Solid Growth, Target Price US$32
HONG KONG, Nov 26, 2014 - (ACN Newswire) - Nomura issued a report on China Mobile Games and Entertainment Group Limited ("CMGE" or the "Company") (Nasdaq: CMGE) on 18th November, 2014. The stock rating maintains "Buy" and the target price has raised to US$32.00.
CMGE has launched its MMOARPG game, the New Legend, with IP rights acquired from Shanda Games. Its 17 self-developed products with valuable IP resources including Naruto, One-Piece, Samurai Sprits, Shaolin Temple, Feng Zhong Qi Yuan, Ikkyu San and Hello Kitty, will also begin their launchings in the 4Q. We think CMGE's abundant IP resources will help the company to boost revenue growth in 4Q14F and also in 2015F.
3Q14 results beat consensus both on the top and bottom lines. Revenues came in at CNY358mn (265% y-y, 30% q-q), beating consensus by 6%. Operating profit recorded CNY73mn, beating consensus by 4%. Non-GAAP net profit came in at CNY81mn (236% y-y, 29% q-q), beating consensus by 4%.
Nomura's 2015F non-GAAP EPS is USD2.48, which gives a TP of USD32 (unchanged), based on 2015F P/E of 13x, the average from seven game peers.
Sectors: Daily Finance, IT Individual, Daily News
Copyright ©2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Press Release
Fujitsu to develop ETF trading platform based on TSE's CONNEQTOR and provide it to Australian Securities Exchange
Jul 03, 2025 11:14 JST
Mitsubishi Motors Launches the All-New Grandis for the European Market
Jul 02, 2025 12:10 JST
Valuufy partners with Mainichi Future Creation Lab, Supporting New Approaches to Business Sustainability
Jul 02, 2025 12:00 JST
Fujitsu launches solution to enhance customers' global supply chain resilience
Jul 02, 2025 11:32 JST
MHI Receives Order to Supply Four Circulating Water Pumps for Units 5 and 6 of Sanmen Nuclear Power Plant in China Under Collaboration with Dongfang Electric Machinery
Jul 02, 2025 11:30 JST
Multi-purpose Arena in Odaiba Aomi Area TOYOTA ARENA TOKYO Construction Completed
Jul 01, 2025 22:56 JST
1Finity, a Fujitsu company, commences operations and reveals brand identity
Jul 01, 2025 22:53 JST
MHI Thermal Systems Begins Field Test of Jointly Developed "Surplus Renewable Energy Absorption and Release System"
Jul 01, 2025 22:40 JST
Japan's Telecommunications Carriers Strengthen Disaster Response Through Collaborative Information Sharing
Jul 01, 2025 22:30 JST
JCB and Mandai Wildlife Group Deepen Partnership with exclusive discounts for JCB cardmembers
Jul 01, 2025 16:00 JST
Fujitsu provides Japan's first AI-powered cloud-based library search service
Jul 01, 2025 11:30 JST
JCB Brings Apple Pay to Cardmembers in Vietnam
Jul 01, 2025 11:15 JST
First Shipment of LNG from the LNG Canada Project
Jul 01, 2025 11:00 JST
Approval in Principle (AiP) for World's First LCO2 / Methanol Carrier
Jun 30, 2025 20:30 JST
Acropolis Rally Greece: Day 4 Sunday success and second overall for TOYOTA GAZOO Racing's Ogier
Jun 30, 2025 20:15 JST
Mitsubishi Fuso-Hino Merger: 4 Firms Collaborate for the Future of Commercial Vehicles
Jun 30, 2025 20:10 JST
Six Companies Establish BlueRebirth Council to Expand Use of Recycled Materials in New Vehicles
Jun 30, 2025 19:25 JST
Honda Changes Plan to Build New Production Plant for Next-generation Fuel Cell Module in Japan
Jun 30, 2025 19:20 JST
MHI-AC&R Receives Recommendation Award of JARAC's 42nd Excellent Energy Saving Equipment Awards
Jun 30, 2025 19:00 JST
The University of Osaka and Fujitsu Japan launch joint research on AI-powered education support for culturally and linguistically diverse children in Japan
Jun 30, 2025 12:00 JST
More Latest Release >>