{
Universal Music Group NV

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}
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Wells Fargo upgrades Universal Music Group stock to overweight with new price target

Wells Fargo analyst Omar Mejias upgraded Universal Music Group NV from Equal Weight to Overweight, raising the price target from €28 to €33. Mejias anticipates a reacceleration in subscription revenue growth, adjusting the CAGR from 8% to 10%, and believes the valuation multiple will rise closer to historical levels due to UMG's strong market position and potential U.S. listing.
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Euro Universal Music Group NV FRA Omar Mejias
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11:20 28.03.2025
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