Ubisoft price target lowered to EUR 10 from EUR 14 at BMO Capital

BMO Capital analyst Brian Pitz lowered the firm’s price target on Ubisoft (UBSFY) to EUR 10 from EUR 14 and keeps an Outperform rating on the shares. The company announced a restructuring leading to the discontinuation of six titles and the delay of seven others, but the firm believes that the recent sell-off in shares due to negative feedback on Star Wars Outlaws and Assassin’s Creed Shadows is overblown and creates an attractive entry point into a well-known AAA publisher, the analyst tells investors in a research note.