Mark O'Donnell de JP MORGAN reste très positif

[blubber]

* Confirme son conseil d’achat
* Objectif de cours passe de € 18,50 à € 18,30 (petit ajustement à cause du lancement de « The Division » au T4)

Mark ‘O Donnel a dit :

* Q1 better than expected
* JP Morgan estimates FCF yield of 9% on average in FY16 and FY17
* Ubisoft continues to guide cautiously and deliver at or above guidance
* extra content revenues were very strong, which are high margin
* back catalog sales up an impressive +59% YoY
* Digital accounted for 56% of sales
* Extra content revenues € 23 mio, flat YoY, BUT this is impressive because last year had the release of Watch Dogs
* Ubisoft reiterated FY16 guidance, which is reassuring
* JP Morgan estimate EPS (=BPA) FY16 : € 1,18, FY17 : € 1,41, PE (=C/B)= 12,7 et 10,7 (!!) (pas chèr du tout !!)
* E3 games conference was successful, strong feedback across all new titles
* NO confirmation on release For Honer and Ghos Recon Wildlands in FY 17
* BUT : CONFIRMATION RELEASE DATES : 13 OCT 15 Rainbow 6; 23 OCT 15 : ASSASSIN’S CREED SYNDICATE; 8 MARCH 15 THE DIVISION
* VERY GOOD TREND IN HARDWARE : NEW GENERATION ON TRACK TO SURPASS 50 MILLION UNITS THIS YEAR

[blubber]

Je confirme, pour moi, le T1 c’est une surprise (légèrement) positive,
mais je suis surtout TRES CONTENT avec la confirmation d’UBI concernant « The Division » :

« The division ?
– On a de la marge sur la date donc très confiant ».

Très content d’avoir renforcé ces derniers jours 😀

• This reply was modified 9 years, 4 months ago by blubber.

[st.thoma]

Jai hate dette au T3…

MERCI

[Author]

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