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New Buy Rating for Universal Music Group (UMGNF), the Services Giant

In a report released yesterday, Benjamin Black CFA from Deutsche Bank maintained a Buy rating on Universal Music Group (UMGNFResearch Report), with a price target of EUR29.00. The company’s shares closed last Tuesday at $21.49.

According to TipRanks.com, CFA is a 1-star analyst with an average return of -5.8% and a 32.0% success rate. CFA covers the Technology sector, focusing on stocks such as Spotify Technology SA, Alphabet Class C, and Alphabet Class A.

Universal Music Group has an analyst consensus of Strong Buy, with a price target consensus of $26.46, a 21.4% upside from current levels. In a report issued on July 14, UBS also maintained a Buy rating on the stock with a EUR29.00 price target.

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Universal Music Group NV is a music entertainment company. It is engaged in three main operating businesses: recorded music; music publishing; and merchandising. The company’s recorded music business discovers and develops artists, supports the creation of audio and audiovisual content by artists, and markets, distributes, sells and licenses such content to consumers across a wide array of formats and platforms.

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