Barclays reiterated an Equal Weight rating and EUR 10.60 price target on Ubisoft (UBSFY) after Bloomberg reported on early talks of Tencent (TCEHY) and the Guillemot family taking the game maker private. For the same reason the shares have struggled to find a floor, it is difficult to set a sensible takeout level, the analyst tells investors in a research note. The firm added that, should a bid materialize, the key question is how much this grouping might pay for the business, though the analyst noted that it is possible that Ubisoft’s four largest AAA intellectual properties – namely “Assassin’s Creed,” “Rainbow Six,” The Division,” and “Far Cry” – could be worth more than the current equity value of EUR2.5B.
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