Universal Music Group (OTC:UMGNF – Get Rating) was downgraded by BNP Paribas from an “outperform” rating to an “underperform” rating in a report released on Thursday, The Fly reports.
Other analysts also recently issued research reports about the stock. Morgan Stanley boosted their target price on shares of Universal Music Group to €36.00 ($39.13) in a research report on Tuesday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of Universal Music Group from €29.00 ($31.52) to €29.20 ($31.74) and gave the company an “overweight” rating in a report on Wednesday, January 18th. Finally, Credit Suisse Group upped their price objective on shares of Universal Music Group to €25.50 ($27.72) in a report on Monday, January 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Universal Music Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.14.
Universal Music Group Price Performance
OTC:UMGNF opened at $23.39 on Thursday. Universal Music Group has a twelve month low of $16.35 and a twelve month high of $27.51. The company’s 50 day moving average is $24.17 and its two-hundred day moving average is $22.66.
About Universal Music Group
Universal Music Group N.V. operates as a music company worldwide. It operates through Recorded Music, Music Publishing, and Merchandising & Other segments. The Recorded Music segment discovers and develops recording artists, as well as markets and promotes their music across various formats and platforms; and engages in the live events, sponsorship, film, and television operations.
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