'Little to get excited about' - Berenberg cuts Focus Home Interactive

Pullup Entertainment SA

28/10/2021 12:56

** Berenberg cuts Focus Home Interactive  ALFOC.PA  to
"hold" from "buy", citing the uncertainty over the French video
games developer's near-term games release schedule that leaves
"little to get excited about" before 2022 full-year update
    ** The broker says delays and "poor game launches" makes the
group's near-term outlook "both highly uncertain and much weaker
than previously anticipated"
    ** It expects FY 2022 EBIT to be much lower due to delays in
releases and "very disappointing" game launches despite the
outperformance of Insurgency's console versions
    ** The brokerage cuts its target price by 16.7% to EUR 50
    ** Among the six analysts covering the stock, four rate it
"buy" and two "hold"

 (Reporting by Olivier Cherfan)
 ((olivier.cherfan@thomsonreuters.com))