(CercleFinance.com) – Ubisoft dropped 3% in the middle of the session, under the weight of a downgrading of the recommendation at UBS directly from ‘buy’ to ‘sell’, with a target price drastically reduced from 55 to 20 euros, on the title of the video game publisher.
‘Although Ubisoft has reiterated its non-IFRS EBIT (operating profit) guidance for the 2023-24 financial year, we believe that significant risks exist based on past execution’, warns the broker.