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Vivendi: Credit Suisse raises target price

( - Credit Suisse has confirmed its outperform rating on the Vivendi share and has raised its corresponding target price to 29 euros (from 27.
50 euros).

The analyst points out that UMG's growth rebounded by 8.5% in Q2 2020 and by 22.6% in Q3 2020.

"This was the best streaming performance since Q2 19 and was above the Q1 20 level of 16.5%. The rebound is due to a recovery in advertising (on platforms such as Spotify and YouTube," the broker says.

"We increase our FY20 EPS by 4% from E0.90 to E0.94".

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