Analysts Offer Insights on Communication Services Companies: Universal Music Group (OtherUMGNF) and Altice Usa (ATUS)

Companies in the Communication Services sector have received a lot of coverage today as analysts weigh in on Universal Music Group (UMGNF – Research Report) and Altice Usa (ATUS – Research Report).

Universal Music Group (UMGNF)

Morgan Stanley analyst Ed Young maintained a Buy rating on Universal Music Group today and set a price target of EUR31.00. The company’s shares closed last Thursday at $29.62, close to its 52-week high of $30.88.

Young has an average return of 9.5% when recommending Universal Music Group.

According to TipRanks.com, Young is ranked #1314 out of 8802 analysts.

Currently, the analyst consensus on Universal Music Group is a Strong Buy with an average price target of $32.49, which is a 7.1% upside from current levels. In a report issued on April 19, J.P. Morgan also maintained a Buy rating on the stock with a EUR36.00 price target.

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Altice Usa (ATUS)

Morgan Stanley analyst Benjamin Swinburne maintained a Hold rating on Altice Usa today and set a price target of $3.00. The company’s shares closed last Thursday at $2.05, close to its 52-week low of $1.75.

According to TipRanks.com, Swinburne is a 5-star analyst with an average return of 11.3% and a 59.1% success rate. Swinburne covers the NA sector, focusing on stocks such as Liberty Media Liberty Formula One, Interpublic Group of Companies, and Paramount Global Class B.

Currently, the analyst consensus on Altice Usa is a Hold with an average price target of $3.34, which is a 60.6% upside from current levels. In a report issued on April 23, Loop Capital Markets also maintained a Hold rating on the stock with a $2.00 price target.

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Read More on UMGNF:

• Universal Music ends TikTok boycott, returns music to platform, FT reports
• Universal Music Group price target raised to EUR 36 from EUR 35 at JPMorgan
• Taylor Swift’s music returns to TikTok despite Universal dispute, NY Times says
• Universal Music Group price target raised to EUR 30 from EUR 28 at Barclays
• Spotify, Universal Music Group expand strategic relationship