HSBC analyst Ali Naqvi downgraded Ubisoft to Hold from Buy with a price target of EUR 21, down from EUR 48, after the company lowered sales and earnings expectations and reported impairments due to weak seasonal trading. Ubisoft also canceled another three games and announced delays to upcoming titles, noted Naqvi, who thinks expectations are being reset but that there are still execution risks.
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Published first on TheFly
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- U.S. video game consumer spending rose 2% y/y in December, says NPD
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