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Ubisoft: UBS downgrades stock

( - UBS has downgraded Ubisoft shares from "buy" to "sell", slashing its target price for them from E55 to E20, with the latter representing downside potential of 19% for the French video game publisher's stock.

"Despite Ubisoft reiterating FY24 non-IFRS EBIT guidance, we believe that material risks exist based on past execution," the broker summarises.

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