Wolfe Research upgraded Universal Music Group to Outperform from Peer Perform with a EUR 27 price target The firm says Universal Music’s valuation multiple is now at parity to the S&P 500 Index, despite a “sustained double-digit growth profile, and new story: ‘Streaming 2.0’ ripening.” The analyst views tiering as a low-risk opportunity to monetize untapped revenue streams. Wolfe believes Universal Music’s “leading” value to price ratio, control of its intellectual property and tiering “create immense opportunity.”
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Read More on UMGNF:
- Universal Music upgraded to Outperform from Peer Perform at Wolfe Research
- Universal Music Group downgraded to Hold from Buy at ING Bank
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- Universal Music Group price target lowered to EUR 26 from EUR 29.50 at Citi
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