Ubisoft: Berenberg still a buyer, cutting TP
(CercleFinance.com) - On Wednesday Berenberg trimmed its target price for Ubisoft shares from 74 euros to 72 euros, while renewing its buy recommendation on them, thanks to a catalogue that it considers "undervalued".
While the broker acknowledges that the video games publisher's recent performance has not been up to scratch, analysts believe that the share's current valuation does not reflect the quality of its titles or the strong potential of its projects.
And while the launch of "Far Cry 6" failed to meet the market's expectations, it believes that the share price's reaction is exaggerated, the broker writes.
Ubisoft shares are currently up about 2.5% at over 47 euros.
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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.
While the broker acknowledges that the video games publisher's recent performance has not been up to scratch, analysts believe that the share's current valuation does not reflect the quality of its titles or the strong potential of its projects.
And while the launch of "Far Cry 6" failed to meet the market's expectations, it believes that the share price's reaction is exaggerated, the broker writes.
Ubisoft shares are currently up about 2.5% at over 47 euros.
Copyright (c) 2021 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.