UBS downgraded Universal Music Group (UMGNF) to Neutral from Buy with an unchanged price target of EUR 30. The company’s growth potential remains strong, but the stock’s current valuation reflects this, the analyst tells investors in a research note. The firm says a new strategy at Universal could unlock further value.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on UMGNF:
- EU to decide on Universal-Downtown transaction by July 22, Reuters reports
- Universal Music Group price target lowered to EUR 40 from EUR 41 at JPMorgan
- Coca-Cola Partners With Universal Music to Debut Real Thing Records
- Morning News Wrap-Up: Thursday’s Biggest Stock Market Stories
- AI Royalties Are Reshaping Music: SONY, WMG, and UMG Could Unlock Billions for Investors