[ET Net News Agency, 9 December 2020] J.P. Morgan initiated coverage on Archosaur Games
(09990), a leading hardcore mobile game developer in China, with an "overweight" rating
and a target price of HK$29.
With 20+ years' R&D experience in both PC and mobile games, Archosaur has a strong track
record in developing hardcore games, the research house said. It launched 15 mobile games
in 2015-20, six of which achieved first-month grossing of Rmb100mn+.
With seven games in the pipeline targeting global markets, Archosaur should deliver a
73% revenue CAGR in 2021-22, JPM estimated. Archosaur's share price is up 84% since IPO on
15 July. It has corrected 20% since early September due mainly to an online gaming stock
correction. JPM believes this correction is overdone, as (1) JPM expects Under the
Firmament to maintain steady performance; and (2) Archosaur still has a rich game pipeline
in the next two to three years and will launch another two blockbuster titles: The New
World and Noah's Heart in late 2020 and early 2021, respectively. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
09990 ARCHOSAUR GAMES
Nominal 
1.310 0.000 (0.000%) Research Report
09/12/2020 16:41
{I-bank focus}JPM starts Archosaur Games (09990) at HK$29
| Remark: | Real time quote last updated: 24/04/2024 08:25 |
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