Ubisoft: Oddo raises its target price after E3.

(CercleFinance.com) - Oddo has confirmed its "buy" rating on Ubisoft and is raising its target price from 50 euros to 58 euros, commenting on video games publisher's announcements at E3, which confirm its high level of creativity.


The broker believes that Ubisoft is well positioned to make its business model more profitable and recurrent. According to Oddo's analysts, one of the major long-term challenges will be to (partially) reduce the gap with competitors in the recurrent investment of players.

The target of underlying EBITDA of 440 million in 2019, against 270 million euros in 2018, is based on high-potential games, an increase in recurrent player and back-catalog investment, along with a reduction in royalties, Oddo's analyst adds.



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