Universal Music Group (OTC:UMGNF) Price Target Raised to €29.20 at JPMorgan Chase & Co.

Universal Music Group (OTC:UMGNF – Get Rating) had its price target hoisted by JPMorgan Chase & Co. from €29.00 ($31.52) to €29.20 ($31.74) in a research note issued to investors on Wednesday, The Fly reports. The brokerage currently has an overweight rating on the stock.

Other analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft reduced their target price on Universal Music Group from €29.00 ($31.52) to €25.00 ($27.17) and set a buy rating on the stock in a report on Tuesday, October 25th. Credit Suisse Group reduced their price objective on Universal Music Group to €24.00 ($26.09) in a research note on Monday, October 31st. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $25.44.

Universal Music Group Price Performance

UMGNF opened at $25.01 on Wednesday. Universal Music Group has a 52-week low of $16.35 and a 52-week high of $27.51. The business’s fifty day moving average is $23.71 and its 200-day moving average is $21.31.

Universal Music Group Company Profile

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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.