(News Bulletin 247) – Wedbush maintains its Outperformance recommendation on Ubisoft shares and lowers its price target from 32 to 29 E.
Ubisoft suffered from “a difficult environment for the gaming industry this year and multiple game delays”, notes the analyst on reading the results “below expectations”.
But for Wedbush, ‘investors should hold some optimism for FY24 as the company has a significant schedule of quality new releases planned’.
‘We maintain our estimates for FY:24 for bookings of 2,100 million euros and an operating result of 400 million euros. For the 2025 financial year, we are adjusting our estimate of reservations to 2,200 million euros against 2,400 million euros, and maintaining our estimate of operating income at 450 million euros.
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