Ubisoft shares hit record high on strong Q1 sales
18/07/2018 08:00
PARIS, July 18 (Reuters) - Ubisoft UBIP.PA shares rose to
record highs on Wednesday after the video games company reported
strong first-quarter sales figures and kept its full-year
targets.
Ubisoft, whose computer games include "Assassin's Creed",
said late on Tuesday that its first-quarter sales had beaten its
own targets. urn:newsml:reuters.com:*:nW8N1KI01I
Shares in the company rose as much as 7.6 percent to a
record intraday high of 107.15 euros at the start of trading,
before edging back to 105.50 euros at 0702 GMT, up 6 percent.
Barclays analysts raised their Ubisoft price target to 105
euros from 102, maintaining an "overweight" rating on the stock.
"We believe that Ubisoft can deliver higher earnings growth
than peers, given significant headroom to improve operating
margins and likely strong execution," they said.
Ubisoft shares are up by around 64 percent so far in 2018.
(Reporting by Sudip Kar-Gupta;
Editing by Laurence Frost)
((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))