UMG: coverage initiated at 'neutral' by UBS

(CercleFinance.com) - UBS has initiated coverage on the UMG (Universal Music Group) share with a 'neutral' recommendation and a price target set at 25 euros, giving an equity valuation estimated at 45 billion euros, the day after the music publishing group was floated on the stock market.


The broker considers UMG to have a unique non-cyclical asset with low risk and strong growth, and a large-cap share for investors, although it considers that its price is currently fair.

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