Ubisoft: Jefferies cuts target price
(CercleFinance.com) - While maintaining its "hold" recommendation on Ubisoft, Jefferies has cuts its target price for the share from 80 euros to 75 euros, after the video game publisher announced Q3 sales that are in line with expectations.
"Notably, we believe key upcoming release The Division 2 faces a high bar, potentially needing to sell over 9m copies for UBI to make its number," the broker says.
"Strong digital growth could offset any shortfalls here, but the competitive environment does remain fierce," it continues, while Ubisoft has confirmed all its FY targets.
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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.
"Notably, we believe key upcoming release The Division 2 faces a high bar, potentially needing to sell over 9m copies for UBI to make its number," the broker says.
"Strong digital growth could offset any shortfalls here, but the competitive environment does remain fierce," it continues, while Ubisoft has confirmed all its FY targets.
Copyright (c) 2019 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.