Ahead of Ubisoft's Q2 results expected October 23rd, Wedbush Morgan's Michael Pachter has predicted sales ahead of consensus estimates of €112 million ($158.9 million) and said the company's share price should rise with continued success of the Nintendo DS.
Pachter says that based on the last two months of NPD results, September should see Ubisoft bringing in $66 million in U.S. sales, up from $51 million the year prior.
He also predicts that the company will raise its guidance for fiscal 2008, and that Wedbush has adjusted its own Q3 and Q4 estimates as
Brother In Arms: Hell's Highway gets lifted into Q3, but is maintaining "conservative" yearly sales estimates of €825 million ($1.17 billion).
Finally, says Pachter, "We expect continued strong sales of Nintendo Wii and DS hardware to provide a near term catalyst for Ubisoft share price appreciation. We believe that the company’s lineup of casual games will benefit from strong DS sales, and will position it to deliver upside to consensus revenue and earnings estimates for FY:08."
