Barclays announced on Tuesday that it had raised its price target for Ubisoft from 29 to 29.15 euros, while renewing its 'weight online' recommendation on the stock.

In a note dedicated to the European media sector, the analyst said he expected the video game group to update its annual targets at its quarterly publication on Thursday October 26.

The intermediary now expects net bookings of €367.8 million for the three months to the end of September, compared with a previous forecast of €362.5 million.

In its study, Barclays underpins this upward revision by the early release of "Assassin's Creed Mirage", available since October 5 and not since October 12 as initially planned.

By way of comparison, Ubisoft had set itself a target of 350 million euros for its second fiscal quarter, it points out.

Although the first half of the 2023/2024 fiscal year proved to be more intense than anticipated, with the launches of 'Assassin's Creed Mirage' and 'The Crew
Motorfest', Barclays expects Ubisoft to post an operating loss, excluding exceptional items, of 70 million euros for the first half as a whole, recalling that the group's activity is heavily concentrated in the second half of the fiscal year.

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