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OTGLY - CD Projekt: Rating Downgrade On Potential Miss In Earnings Targets
CD Projekt S.A. - ADR
2024-06-03 06:18:01 ET
Summary
CD Projekt's recent earnings report showed strong net income growth driven by tax benefits, but it is unlikely to be sustainable.
The company's ambitious target of launching two big games within a tight timeframe seems unrealistic given the complexity of game development and the recent switch to Unreal Engine 5.
Partnership revenue is also unlikely to materialize by FY26/27, making it challenging for CD Projekt to meet its earnings target.