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Ubisoft: Oddo confirms rating and target price.

(CercleFinance.com) - Oddo has confirmed its buy rating on the Ubisoft stock, maintaining its target price of 75 euros.

The broker's analysts recall that Ubisoft last night announced the postponement of three AAA games - mainly with a view to improving the quality and potential to raise money therefrom.

A few years ago, shifts in game schedules could lead to serious profit warnings for the company. However, this is no longer the case; the strong development of the group's back-catalog and digital reduce the group's exposure to the launches of new games (to which more development time can be allocated), Oddo explained in its daily research report.

Analysts believe that the transformation of the group's business model to more recurrence and profitability has therefore been confirmed once again, which is playing a part in the share's strong rerating (with the support of speculative appeal since Vivendi's hostile entry into the group's capital in late 2015).

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