(CercleFinance.com) – Goldman Sachs raised its recommendation on Ubisoft on Friday, raising it from ‘sell’ to ‘neutral’ with a price target reduced from 41 to 37 euros.
In a research note, the financial intermediary welcomes the “solid” half-yearly turnover published by the video game designer, which, according to him, benefits from recent licensing agreements concluded in mobile.
Beyond the results, the analyst evokes a ‘more balanced’ risk/reward profile with a stock which is now traded on the basis of a discount of 26% compared to the rest of the sector, to be compared with a historical discount of 9%.
From a broader perspective, Goldman is optimistic about the industry heading into fiscal 2023 due to the arrival of a new generation of consoles, the launch of new titles, a more favorable comparison and the breakthrough of mobile games.
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