Ubisoft: Wedbush still buying, but cuts target price
(CercleFinance.com) - Wedbush maintains its Outperform rating on Ubisoft shares, while reducing its target price for them from E32 to E29.
Ubisoft has suffered "suffered from a challenging environment for the games industry this year and multiple game
delays," the analyst notes, after reading its results, which are below expectations.
However, Wedbush says that, "Investors should carry some optimism into FY:24 as the company has a large schedule of quality new releases planned".
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Ubisoft has suffered "suffered from a challenging environment for the games industry this year and multiple game
delays," the analyst notes, after reading its results, which are below expectations.
However, Wedbush says that, "Investors should carry some optimism into FY:24 as the company has a large schedule of quality new releases planned".
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.