Codemasters higher as it releases DiRT 5 rally game

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Codemasters Group Holdings PLC (LON:CDM) has announced the release of its DiRT 5 rally racing video game for the PlayStation 4 and Xbox One consoles and on PC.

The AIM-listed game developer said the game will also be released on the next generation of consoles, the Xbox Series X|S and the PlayStation 5, which are due to launch on November 10 and November 12 respectively. A version for the Google Stadia video game streaming service is also scheduled for release in early 2021.

READ: Codemasters delays release of DiRT 5

The company had initially planned to release the title on October 16, however, this was pushed back to early November in order to release all versions of the game in a shorter timeframe, particularly those versions available on the new generation of consoles.

DiRT 5 offers players an off-road racing experience on tracks that cover locations including New York City and Rio de Janeiro as well as locations in Greece and China. Aside from a single-player mode the game also offers four player split screen play.

“In keeping with our reputation for producing the highest quality, AAA rated racing games, DIRT 5 has received widespread critical acclaim, culminating with the game receiving the gamescom 2020 Best Racing Game Award on 30 August. We are extremely proud of the game and are thrilled that it is finally available to players around the world”, Codemasters chief executive Frank Sagnier said in a statement.

In a note on Friday, analysts at house broker Liberum retained their ‘buy’ rating and 435p target price on the stock, saying they believed the title’s “innovative game play can underpin the game’s financial success”.

Analysts at Shore Capital were similarly upbeat, saying they believed that given the company’s retention of new players and digital sales it is in “a strong position for further growth and margin progress” and retained their ‘buy’ rating and 510p price target.

Shares in Codemasters rose 0.6% to 437.5p in mid-morning trading.

–Adds broker comments and share price–

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