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Ubisoft: up sharply, an analyst's opinion

( - Ubisoft's share price has risen by more than 14% in Paris, following the announcement of its results.
Against this backdrop, Deutsche Bank has announced that it is raising its price target on the stock from 35 to 38 euros, while reiterating its buy recommendation on the share.

Despite fears that the group's targets might be revised downwards, the video game publisher last night confirmed its forecasts for the 2023-2024 financial year, still forecasting "strong growth" in net bookings and annual operating income of around 400 million euros, according to the analyst.

These reassuring forecasts follow, in his opinion, solid third-quarter results, during which net bookings, at 626 million euros, exceeded the company's target of 610 million, despite the rather disappointing performance of the title 'Avatar: Frontiers of Pandora'.

While the stock has fallen by almost 30% over the past four months due to growing interest from short sellers in anticipation of a possible warning, these better-than-expected results should help restore market confidence, concludes the research firm, especially in view of the impressive release schedule that is shaping up for the 2024/2025 financial year.

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