UMG: UBS lowers target price
(CercleFinance.com) - UBS has reaffirmed its 'buy' recommendation on Universal Music Group (UMG) shares, while lowering its target price from E32.
5 to E26, which still represents 21% upside potential for the music publishing group's shares.
The broker considers that the slowdown in streaming growth is temporary, and that a reacceleration is achievable and not taken into account. However, it says that it has reduced the risks in its earnings forecasts for the group.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
5 to E26, which still represents 21% upside potential for the music publishing group's shares.
The broker considers that the slowdown in streaming growth is temporary, and that a reacceleration is achievable and not taken into account. However, it says that it has reduced the risks in its earnings forecasts for the group.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.