Report
UMG : The entry point is attractive to take a position for the medium term and on the solidity of the model – Outperform vs Neutral
>The outlook remains solid - We upgrade our rating on UMG to Outperform with an unchanged target price of € 25.5. The outlook for the group is still just as solid based on two observations: 1/ the music market seems protected from possible future economic slowdowns. Streaming is set to continue to grow and the group is in a position to further develop its market opportunities with new players; 2/ UMG is likely to gradually reduce its investments in content, enabling ...
Underlying
UNIVERSAL MUSIC GROUP NV
Provider
Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Jerôme Bodin
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