2023-09-20 15:53:09
Ubisoft gained 2.23% to 28.89 euros following announcing that its car racing game The Crew Motorfest had had a good commercial start. According to the video game publisher, it is the highest-rated title in the franchise and had the best first week for that franchise “in terms of total unit sales, overall consumer spending, and rate of release.” “adoption of the season pass”.
“Without being major because The Crew was far from being expected as the main contributor to the exercise, this news is good and has the merit of launching the pipeline well,” reacted TP ICAP. The analyst will meet in several weeks with the piece of choice: Assassin’s Creed.
On Friday, Morgan Stanley began monitoring Ubisoft with an online Weighting recommendation and a target price of 31.50 euros. The analyst says the company has multiple, overlapping opportunities to increase its exposure to the fastest-growing segments of the gaming industry, expand its geographic footprint, increase its margins and improve the quality and consistency of its results. .
The broker also appreciates Ubisoft’s 200 million euro savings plan, the costs of which are higher than those of its American competitors. However, the broker prefers to “stay on the sidelines for the moment” because the group’s recent achievements are mediocre and the market is very competitive.
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