Invest Securities remains 'buy' on Nacon, with its price target raised from three to 3.8 euros, believing that 'in an entertainment industry where it is difficult to anticipate successes and failures, Nacon is gradually regaining favorable momentum'.

Boosted by the success of Robocop and the initial rationalization of R&D spending, the half-year results reflect a major improvement in trends, amplified at FCF level by good control of working capital requirements", the analyst points out.

With the confirmed release of Test Drive and several major Nacon games, as well as tight control of R&D expenses, the outlook for fiscal 2024-25 is favorable, with Test Drive as a possible game changer", he continues.

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