Universal Music Group (OTCMKTS:UMGNF) Rating Increased to Outperform at Wolfe Research

Wolfe Research upgraded shares of Universal Music Group (OTCMKTS:UMGNF) from a peer perform rating to an outperform rating in a report issued on Tuesday, MarketBeat Ratings reports.

Several other equities research analysts have also weighed in on the company. Wells Fargo & Company lowered Universal Music Group from an overweight rating to an equal weight rating in a research report on Thursday, July 25th. Citigroup cut shares of Universal Music Group from a buy rating to a neutral rating in a report on Thursday, July 25th. Barclays lowered shares of Universal Music Group from an overweight rating to an equal weight 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 note on Thursday, July 25th. Finally, BNP Paribas raised shares of Universal Music Group from a neutral rating to an outperform rating in a research note on Thursday, August 29th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold.

Universal Music Group Stock Performance

Shares of UMGNF opened at $26.28 on Tuesday. The company has a 50-day simple moving average of $25.78 and a two-hundred day simple moving average of $28.27. Universal Music Group has a one year low of $22.53 and a one year high of $32.24.

Universal Music Group Company Profile

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.