Wolfe Research Upgrades Universal Music Group (OTCMKTS:UMGNF) to “Outperform”

Universal Music Group (OTCMKTS:UMGNF) was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports.

Several other brokerages also recently weighed in on UMGNF. BNP Paribas upgraded shares of Universal Music Group from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 29th. Citigroup downgraded Universal Music Group from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Kepler Capital Markets cut Universal Music Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Guggenheim lowered shares of Universal Music Group from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Finally, Barclays downgraded shares of Universal Music Group from an “overweight” rating to an “equal weight” rating in a research report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Universal Music Group Price Performance

Shares of UMGNF stock opened at $26.28 on Tuesday. The stock’s 50-day moving average is $25.82 and its two-hundred day moving average is $28.25. Universal Music Group has a 1 year low of $22.53 and a 1 year high of $32.24.

About Universal Music Group

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.