Ubisoft: AlphaValue still a buyer, but cuts TP
(CercleFinance.com) - AlphaValue has reduced its target price for Ubisoft shares to 64.
7 euros (from 77.3 euros previously), in order to take into account the "uncertainties" that currently surround the video game group's business.
The broker explains that it had reduced its cash flow forecasts for the coming years, pending more clarity about the postponement of new releases and the development of free-to-play games, two factors that analysts believe could weigh on the share's price.
Despite this, analysts still highlight Ubisoft's competitive advantages, as it has the expertise, infrastructure and franchises needed to develop quality content in-house, they say, while renewing their buy rating on the stock.
The share is currently down about 1.5% at about 44.5 euros.
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