UMG gains more than 3% on the Amsterdam stock exchange following the publication of quarterly results deemed 'solid despite slower growth in paid streaming' by UBS.

The analyst confirms his 'buy' recommendation on the stock, with a price target raised from 31.4 to 32.5 euros, representing a potential upside of 16%.

"Expect earnings improvements for UMG after the first-quarter results, thanks to solid streaming advertising revenues and improved operating leverage", says UBS.


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