Analysts have reduced the value of CD PROJEKT shares almost twice — to $12.8 per share
CD PROJEKT shares continue to fall rapidly. For the first time since January 2018, they are trading at a price below 100 zloty ($23.39) apiece. But according to Bank of America, the group of companies should be even cheaper.
The bank’s analysts believe that the market is overestimating the potential of major additions to Cyberpunk 2077. They also stated that, most likely, CD PROJEKT will release the next AAA game no earlier than 2026.
Bank of America is not the first firm to doubt the future of CD PROJEKT. According to Bloomberg, now 16 analysts recommend selling developer shares at once. Six more advise to hold the shares, and only one — to buy.
At the time of writing the news, you can buy one share of CD PROJEKT for 97 zloty ($ 22.7). This is 51.5% less than at the beginning of the year.
