Vivendi: Jefferies cuts target price

(CercleFinance.com) - An analyst at Jefferies said on Monday that his is cutting his target price for the Vivendi stock, maintaining a "hold" rating, with the group still wanting to sell up to 50% of UMG - its music label - by the end of 2019.


"Now we are cautious on prospects for UMG stake sale with SPOT licence expiry in April. Investors may struggle to define FV for UMG until a new deal is agreed [with the music streaming giant], analysts say.

As a result, the analyst has trimmed his target price for the share from 23 euros to 22 euros.



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