Vivendi: Credit Suisse still a buyer; pending UMG sale
(CercleFinance.com) - This morning Credit Suisse has updated the Vivendi stock, pending the completion of the sale of Universal Music Group (UMG).
The broker remaintains a buy ("outperform") rating, with a target price of 27.2 euros.
Analysts believe that the UMG case will feature as Vivendi unveis its interim results on 25 July, and that the sale process should start in 2019. However, Credit Suisse notes that the deal is taking more time than it first thought, and is therefore waiting for clarification on the subject.
Regarding its performance, analysts anticipate that UMG's Q2 performance will be much less dynamic than in Q1, while the comparison basis is becoming difficult. Nevertheless, its margin should improve.
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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.
The broker remaintains a buy ("outperform") rating, with a target price of 27.2 euros.
Analysts believe that the UMG case will feature as Vivendi unveis its interim results on 25 July, and that the sale process should start in 2019. However, Credit Suisse notes that the deal is taking more time than it first thought, and is therefore waiting for clarification on the subject.
Regarding its performance, analysts anticipate that UMG's Q2 performance will be much less dynamic than in Q1, while the comparison basis is becoming difficult. Nevertheless, its margin should improve.
Copyright (c) 2019 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.