Ubisoft Entertainment Stock News

Ubisoft Entertainment (OTC:UBSFF, EPA:UBI) has been downgraded to ‘Neutral' from ‘Outperform' by Wedbush analysts, who also lowered its price target to €5 from €12, citing reduced confidence in the company's financing strategy and future content pipeline visibility. Shares of Ubisoft are down about 24% so far in the year to date, trading at about €5 on Friday.

The French videogame group reported a 9.2% slip in first-quarter net bookings, but said the success of its video game remake showed its operations overhaul is paying off.

French video game maker Ubisoft stuck to its annual targets on Thursday after ​first-quarter bookings came in slightly above guidance, while ‌the group continued to cut costs and gave limited new detail on its future release slate.

French video games company ​Ubisoft said on ‌Wednesday it recruited Amazon Games ​Vice President ​Christoph Hartmann to ⁠lead its "Creative ​House 2", the ​division that manages games in the ​Tom Clancy ​franchise, such as "Splinter Cell" ‌and "The ⁠Division".

Ubisoft Entertainment cofounder Claude Guillemot has died at 69. French authorities said Guillemot was involved in a fatal plane crash.