Exane BNP Paribas cautious on Ubisoft shares

Complicated weekend for Ubisoft. Good last of the SRD since the opening of the Paris Stock Exchange, the title of the video game publisher lost 5% Friday in the middle of the afternoon, to 41 euros, after a low of 40.06 euros. In question: a degradation of Exane BNP Paribas, which goes from “outperformance” to “neutral” on the file, to target 45 euros, against 49 previously. The analyst in charge of monitoring the value wants to be cautious for the 2023 financial year, due to the fierce competition raging in the segment of action and adventure games, the limited contribution of free- to-play and the decline in gross margin. Although Ubisoft could be a potential target, the analyst does not necessarily expect an offer in the next twelve months due to the economic context.