Vivendi: still a buyer, Oddo ups target to 25 euros.
(CercleFinance.com) - In a report published this morning entitled "Music to my ears," the Parisian broker Oddo BHF confirmed its buy rating on the Vivendi share.
Alongside this, the group raised its target price from 22 euros to 25 euros (+13.6%).
"In October 2016, we highlighted the potential of Streaming (Universal Music Group, UMG, ed.), which is expected to reverse the trend of the global music market," the report said.
A year later, we see that the figures observed are even stronger than expected and that there are many catalysts through to 2020. We have therefore raised our valuation for UMG to 17.4 billion euros, against 15.5 billion euros previously, and reiterate our positive opinion of the Vivendi stock, Oddo BHF added.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Alongside this, the group raised its target price from 22 euros to 25 euros (+13.6%).
"In October 2016, we highlighted the potential of Streaming (Universal Music Group, UMG, ed.), which is expected to reverse the trend of the global music market," the report said.
A year later, we see that the figures observed are even stronger than expected and that there are many catalysts through to 2020. We have therefore raised our valuation for UMG to 17.4 billion euros, against 15.5 billion euros previously, and reiterate our positive opinion of the Vivendi stock, Oddo BHF added.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.