UBS has reiterated its recommendation to 'buy' Universal Music Group (UMG) and has maintained a price target of 26 euros. This indicates a potential upside of 26% for the company's stock.
According to UBS, label revenues from paid streaming have grown by around 8% year-on-year in the third quarter, which is consistent with the growth observed in the previous quarter. UBS also highlights the positive impact of Amazon's recent bundling of audiobooks with its Music Unlimited service, seeing it as a promising development for the music streaming sector.
Investors are advised to consider this information when making their decisions and seek professional advice if necessary.