Citi opens ’90 day positive catalyst watch’ on Ubisoft

Citi opened a “90 day positive catalyst watch” on shares of Ubisoft while keeping a Buy rating on the name with an EUR 45 price target. The analyst sees potential for the company’s growth to inflect from Q2, drive by its “ambitious launch profile.” Against the backdrop of fiscal year consensus forecasts that assume Ubisoft misses guidance and a “depressed valuation,” consistent delivery by itself may be enough to drive a stock re-rating, contends Citi.