Ubisoft: UBS reduces its price target

(CercleFinance.com) - On Thursday, UBS maintained its 'sell' recommendation on Ubisoft shares, with a price target lowered from €20 to €16, representing a downward potential of 8%.


In a note released this morning, the analyst explained that the stock's risk/reward profile was unfavorably oriented, and said he feared a downward revision of consensus forecasts despite the positive reviews of his latest title, 'Star Wars Outlaws'.

While it's true that 'Star Wars Outlaws' received a 'generally favorable' reception, with a score of 77 on metacritic, this performance is in line with the group's previous games," observes UBS.

This reinforces our confidence in the stock's ability to sell some 10 million copies in the 2024/2025 financial year, but we see no indication of an improvement in product quality, as the recent strategic turnaround was intended to do', the intermediary points out.

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