ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
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 Release
Hong Kong Watch & Clock Fair, Salon de TIME return in September
Aug 31, 2025 12:30 JST
Honda Announces New Plan for Relocation of Global Head Office to Yaesu Area in Tokyo and Reconstruction of Honda Aoyama Building
Aug 29, 2025 18:54 JST
Ministry Of Health, Labour and Welfare Grants Orphan Drug Designation in Japan to Anticancer Agent Tazemetostat for Unresectable INI1-Negative Epithelioid Sarcoma
Aug 29, 2025 18:17 JST
Hitachi Energy acquires remaining stake of eks Energy, reinforcing leadership in power conversion systems for energy storage
Aug 29, 2025 15:17 JST
SenseTime Announces 2025 Interim Results
Aug 28, 2025 21:20 JST
Ausnutria 2025 Interim Results Announcement: Revenue and Profit Maintain Resilient Dual Growth
Aug 28, 2025 19:09 JST
Baguio Green Group (1397.HK) Announces 2025 Interim Results
Aug 28, 2025 19:03 JST
Production, Sales and Export Results for July, 2025
Aug 28, 2025 17:36 JST
Sales, Production, and Export Results for July 2025
Aug 28, 2025 17:25 JST
The University of Tokyo and DENSO Jointly Establish a Social Cooperation Program: "Building Sustainable Production System Infrastructure with Advanced AI Technology"
Aug 28, 2025 16:33 JST
Overview of Honda Exhibits at the Japan Mobility Show 2025
Aug 28, 2025 15:49 JST
NEC develops AI technology for digitalizing work tasks without the need for pre-training and utilizing video from multiple cameras covering wide area worksites
Aug 27, 2025 22:57 JST
Result of the Business Plan Review for the Offshore Wind Power Generation Projects in Japan
Aug 27, 2025 22:27 JST
Fujitsu develops AI agent platform for the healthcare sector to enhance operational efficiency and ensure stable medical service provision
Aug 27, 2025 21:50 JST
MHI Becomes First Japanese Company to Acquire ISO 19443:2018 Certification in the Nuclear Energy Field
Aug 27, 2025 21:32 JST
Mitsubishi Logisnext to Demonstrate Automated Forklift Equipped with "SynfoX" at "4th INNOVATION EXPO"
Aug 27, 2025 20:59 JST
TANAKA to Showcase Advanced Semiconductor Materials in its Inaugural Participation at SEMICON India 2025
Aug 26, 2025 13:30 JST
Honda to Hold Official e-Motorsports Event, "Honda Racing eMS 2025"
Aug 26, 2025 13:17 JST
Mitsubishi Corporation Invests in Fullerton Health
Aug 26, 2025 12:54 JST
Austria and Germany to become the first markets in the European Union (EU) to launch LEQEMBI(R) (lecanemab)
Aug 25, 2025 19:30 JST
More Latest Release >>