Less Ads, More Data, More Tools Register for FREE

Pin to quick picksCDM.L Share News (CDM)

  • There is currently no data for CDM

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Berenberg lowers Codemasters to 'hold'

Wed, 25th Nov 2020 11:47

(Sharecast News) - Analysts at Berenberg lowered their rating on video games developer Codemasters from 'buy' to 'hold' on Wednesday as a result of Take-Two Interactive's impending takeover.
Berenberg stated that Codemasters reported "strong" first-half results on Monday but, with the takeover by Take-Two Interactive progressing and shares currently trading at a premium to the US firm's implied offer, it felt it prudent to downgrade its rating.

"We think the likelihood of a counteroffer is diminishing," said the analysts, who did also note that they do not believe that the takeover process will be "completely straightforward".

"Some also feel that the offer is based on FY 2021 numbers that are clearly too low, a view that has some merit after the H1 results," said Berenberg.

"As the board has recommended the offer, it is more likely than not that the deal will go through. But, given the spread of opinions, we feel it is not a foregone conclusion."

The German bank stated that the frustration it had encountered among shareholders meant there was "still a possibility" that Take-Two may have to raise its offer. However, Berenberg highlighted that this was a scenario on which it had only "limited visibility".

"While there may be more developments in the course of the takeover process, we choose to move to the sidelines."
More News
16 Dec 2018 16:35

Sunday share tips: GVC Holdings, Findel, Codemasters

(Sharecast News) - A round-up of share tips from the Sunday newspapers, including GVC Holdings in the Sunday Times, Findel in the Mail on Sunday and Codemasters in the Sunday Telegraph.

Read more
27 Nov 2018 10:45

Gfinity Annual Loss Widens On Staff And Acquisition Costs; Revenue Up

LONDON (Alliance News) - Gfinity PLC on Tuesday said its loss more than doubled in its most recently ended financial year due to higher costs, in spite of higher revenue due to a strong from its a

Read more
6 Nov 2018 15:59

UK Earnings, Trading Statements Calendar - Next 7 Days

Wednesday 7 November Dairy CrestHalf Year ResultsITVQ3 ResultsMarks 8 9

Read more
5 Nov 2018 15:45

Janus Henderson Group Now Holds 5% Stake In Codemasters (ALLISS)

LONDON (Alliance News) - Codemasters Group Holdings PLC said Monday that Janus Henderson Group PLC now owns a 5.03% interest in the company.Janus's holding in the software company prior

Read more
18 Oct 2018 11:54

Thursday broker round-up

(Sharecast News) - Mediclinic: Barclays downgrades to equal weight with a target price of 460p.

Read more
8 Oct 2018 11:22

Codemasters Expects Full Year To Be In Line With Expectations

LONDON (Alliance News) - Video games developer Codemasters Group Holdings PLC said Monday it remains confident that performance for the current financial year will be in line with management the a

Read more
8 Oct 2018 10:46

Digital sales on the rise at Codemasters

(Sharecast News) - Video game developer Codemasters said first half revenue came in at £39.7m as digital sales as a proportion of revenue continue to increase.

Read more
1 Oct 2018 16:04

UK Earnings, Trading Statements Calendar - Next 7 Days

Tuesday 2 October FergusonFull Year Results SCS GroupFull Year Bars Year Gifford 3 4

Read more
4 Sep 2018 16:34

Codemasters says everything's fine in light of recent share price fall

(Sharecast News) - Codemasters updated the market on its trading on Tuesday, in light of recent share price movement, reporting that its trading in the year to date was in line with its expectations.

Read more
4 Sep 2018 11:23

Codemasters Confirms Trading In Line Despite Share Price Plummet

LONDON (Alliance News) - Video game developer and publisher Codemasters Group Holdings PLC confirmed Tuesday it continued to trade in line with expectations, after its share price has lost a fifth

Read more
30 Aug 2018 13:50

Thursday broker round-up

(Sharecast News) - Bellway: Deutsche Bank upgrades to buy with a target price of 2,745p

Read more
1 Jun 2018 10:22

Codemasters Shares Begin London Trade After GBP15 Million Raise (ALLIPO)

LONDON (Alliance News) - Shares in video game company Codemasters Group Holdings PLC began trading on the London Stock Exchange's AIM market on Friday after raising GBP15 million for the in up

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.