UMG: UBS still a buyer
(CercleFinance.com) - UBS confirms its 'buy' recommendation on UMG (Universal Music Group) shares, as well as its target price of E26, representing 26% upside potential for the Amsterdam-listed music entertainment giant's stock.
It believes that label revenues from paid streaming grew by around 8% y-o-y in Q3, in line with Q2, and that Amazon's bundling of audiobooks with Music Unlimited is an encouraging development.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
It believes that label revenues from paid streaming grew by around 8% y-o-y in Q3, in line with Q2, and that Amazon's bundling of audiobooks with Music Unlimited is an encouraging development.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.