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Thursday, January 26, 2023

MORGAN STANLEY HIGHLIGHTS UMG AS HOTTEST EU STOCK

Topping the list of Morgan Stanley's favorite European stocks heading into earnings season is UMG on Amsterdam's Euronext. The Wall Street firm's notes have the music major's stock-price ceiling listed at a potential 50% increase.

“We expect the stock to rally into earnings, due in early March," reads a statement. "We think consensus forecasts for Subscription & Streaming revenue growth and margins in 2023 are too low and believe FY′22 earnings will be a catalyst for a reassessment of both metrics by investors.”

The stock has been trading around $25 a share this week.

Included in UMG's Q4 earnings will be Taylor Swift's massive Midnights, as well as #1 albums by Drake and Metro Boomin.

TAGS: UMG | Morgan Stanley | stocks | earnings | Taylor Swift | Drake | Metro Boomin
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