(CercleFinance.com) – The stock ended the day up almost 1% on the Amsterdam Stock Exchange. Bloomberg reports that Sony is in negotiations to acquire Queen’s catalog for a potential amount of $1 billion, UBS analysts pointed out this morning.
Following this announcement, UBS confirms its purchase advice on the stock with a target of E32.5, which represents a potential increase of 16%.
‘Sony’s potential acquisition of Queen’s recorded music is a positive development for UMG, given previous press reports that UMG could be the buyer of the rights,’ says UBS.
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