Citi: PS Plus did not bring surprises to maintain Sony (SONY.US) $148 target price Author Zhitong Finance

Zhitong Finance APP was informed that after Sony (SONY.US) launched the PlayStation Plus subscription service, Citigroup analyst Kota Ezawa said that this did not surprise the market. The analyst maintained Sony’s “buy” rating with a target price of $148. or 18,000 yen.

Citi analyst Kota Ezawa said that Sony’s new PlayStation Plus subscription service gives players access to more than 700 games, which is not surprising, but since the launch of the service, Sony will officially compete with the game subscription service. Microsoft’s (MSFT.US) GamePass competes with Nintendo’s Switch Online, so the bank remains positive about the company’s future.

Ezawa pointed out that PS Plus will be divided into three different tiers, and if a large number of users use the more expensive PS Plus Premium service, it will be more beneficial to Sony’s profit growth. It is reported that the monthly subscription fee for PS Plus Premium in the United States is $17.99.

Ezawa wrote in the report: “On most contract plans, users are free to play about 740 games (this number may vary in different regions), and the monthly subscription fee is $17.99 in the United States and $10 in Europe. 16.99 euros, or £13.49 in the UK, is very good for Sony’s profit growth,” adding that it was nearly double the price of the basic service, PlayStation Plus Essential.

“We expect that the number of users opting for the more expensive PS Plus Premium package will increase in the future,” Ezawa added. Ezawa also emphasized that the new service offers “higher quality and greater number of games” with the updated PS Plus offers free online multiplayer, something that wasn’t available before.