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Universal Music Group (UMGNF) Receives a Buy from Jefferies

Tipranks - Tipranks - Mon Apr 13, 10:18AM CDT

Jefferies analyst James Heaney CFA reiterated a Buy rating on Universal Music Group today and set a price target of €22.00.

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Heaney CFA covers the Communication Services sector, focusing on stocks such as Spotify, Netflix, and AppLovin. According to TipRanks, Heaney CFA has an average return of 15.6% and a 35.11% success rate on recommended stocks.

In addition to Jefferies, Universal Music Group also received a Buy from Guggenheim’s Michael Morris in a report issued on April 8. However, on the same day, Barclays maintained a Hold rating on Universal Music Group (Other OTC: UMGNF).

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Based on Universal Music Group’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of €6.63 billion and a net profit of €101 million. In comparison, last year the company earned a revenue of €6.31 billion and had a net profit of €1.17 billion

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