BMO Capital analyst Brian Pitz upgraded Ubisoft to Outperform from Market Perform with a price target of EUR 22, down from EUR 27. The shares are “too cheap to ignore” amid concerns over Star War Outlaws, the analyst tells investors in a research note. Despite weak third-party data around the game, it remains too early to call Star War Outlaws a flop because it may have a longer-tailed adoption and is expected to sell well during the holiday season, the analyst tells investors in a research note.
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