Ubisoft: Deutsche Bank lowers its target price
(CercleFinance.com) - Deutsche Bank announced on Friday that it had lowered its price target for Ubisoft shares from €15 to €13, ahead of the video game group's third-quarter sales release, scheduled for February 13.
The financial intermediary, which maintains its 'hold' recommendation on the stock, points out that the company had recently revised downwards its projections for the quarter ended December, due to disappointing sales of its 'Outlaws' title.
At the same time, Ubisoft had also announced a further one-month postponement of its highly-anticipated game 'Assasin's Creed Shadows', whose launch is now scheduled for March 20, the analyst recalls.
From Deutsche Bank's point of view, the success of this release will prove 'crucial' for the future of Ubisoft, which has chosen since 2022 to refocus on its core assets.
If the stock performs well and if the Guillemots validate this strategy, then speculation about a takeover of the company should subside, disappointing those who were betting on the scenario of an acquisition of the company", concludes the professional.
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