(CercleFinance.com) – UMG gains more than 3% on the Amsterdam stock exchange after the publication of quarterly reports deemed ‘solid despite slower growth in paid streaming’ by UBS.
The analyst also confirms his purchase advice on the stock with a price target raised from 31.4 to 32.5 euros, i.e. a potential increase of 16%.
“Expect earnings improvements for UMG following Q1 results, driven by strong streaming ad revenue and improved operating leverage,” says UBS.