UBISOFT : Wedbush lowers its target price
"With this pre-announcement, it looks like the turnaround will last another two years", believes the broker, who in its wake reduces its own expectations for net bookings and operating profit for fiscal years 2023 to 2025.
A downgrade would have been appropriate a year ago, but there is sufficient upside potential relative to our target to maintain our Outperform rating," moderates Wedbush, for whom the stock thus remains "cheap".
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