UBS has adjusted its price target for Ubisoft, reducing it to €13.75 from €14.50, in response to disappointing first-half results.
The firm maintains a Neutral recommendation on the stock, stating that there are ongoing risks to full-year forecasts despite Ubisoft's reaffirmation of its financial targets for the 2024-25 fiscal year.
Ubisoft expects net bookings of around €1.95 billion, with non-IFRS operating income and free cash flow projected to be close to breakeven.
UBS analysts express cautious optimism, acknowledging that while risks persist, there is still potential for recovery.