Ubisoft: Bryan Garnier downgrades rating
(CercleFinance.com) - Bryan Garnier has downgraded its rating on Ubisoft from "neutral" to "sell," while maintaining its fair value for the share at 65 euros, considering that the stock should now catch its breath after its excellent performance in recent years.
"At the current share price, we believe the stock is more than fully valued (based on the group's FY2018-19 fundamentals) with no speculative flavour," the broker says, which sees that its current level represents a good opportunity for investors to take their profit.
Bryan Garnier believes that the successful launch of Far Cry by the video games publisher provides this opportunity, with the share having reached a historic peak on Thursday, implying sufficient downside potential (-12%) relative to its "fair value".
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"At the current share price, we believe the stock is more than fully valued (based on the group's FY2018-19 fundamentals) with no speculative flavour," the broker says, which sees that its current level represents a good opportunity for investors to take their profit.
Bryan Garnier believes that the successful launch of Far Cry by the video games publisher provides this opportunity, with the share having reached a historic peak on Thursday, implying sufficient downside potential (-12%) relative to its "fair value".
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.