Jefferies analyst James Heaney assumed coverage of Universal Music Group with a Buy rating and price target of EUR 33, up from EUR 31. The firm views the music labels as a “great way to play music streaming industry growth.” The analyst believes Universal is better positioned over the long-term given its superior artist roster and industry leading return on invested capital.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on UMGNF:
- Universal Music Group price target raised to EUR 31 from EUR 30 at Barclays
- YouTube seeking record label deals for new AI music generation tools, FT reports
- Universal Music Group price target raised to EUR 37 from EUR 36 at JPMorgan
- Bill Ackman eyeing Pershing Square IPO as soon as next year, WSJ reports
- Universal Music Group upgraded to Hold from Reduce at HSBC