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

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

UMGNF has been the subject of several other reports. Barclays cut Universal Music Group from an “overweight” rating to an “equal weight” rating in a research note on Thursday, July 25th. Citigroup cut Universal Music Group from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Wells Fargo & Company downgraded Universal Music Group from an “overweight” rating to an “equal weight” rating in a report on Thursday, July 25th. BNP Paribas raised Universal Music Group from a “neutral” rating to an “outperform” rating in a report on Thursday, August 29th. Finally, Guggenheim downgraded Universal Music Group from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Universal Music Group Stock Up 1.2 %

Universal Music Group stock opened at $26.12 on Tuesday. Universal Music Group has a 12 month low of $22.53 and a 12 month high of $32.24. The stock’s 50 day moving average is $25.86 and its 200-day moving average is $28.21.

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.