Evercore ISI Keeps a Buy Rating on Warner Music Group (WMG)

Evercore ISI analyst Vijay Jayant reiterated a Buy rating on Warner Music Group (WMGResearch Report) yesterday and set a price target of $45.00. The company’s shares closed last Wednesday at $38.56.

According to, Jayant is a 3-star analyst with an average return of 6.1% and a 55.4% success rate. Jayant covers the Services sector, focusing on stocks such as Liberty Media Liberty Formula One, Liberty Media Liberty SiriusXM, and Sirius XM Holdings.

Warner Music Group has an analyst consensus of Moderate Buy, with a price target consensus of $47.00, implying a 24.5% upside from current levels. In a report issued on February 8, Jefferies also initiated coverage with a Buy rating on the stock with a $48.00 price target.

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Warner Music Group’s market cap is currently $19.97B and has a P/E ratio of 50.99.

Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WMG in relation to earlier this year.

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With about $3.5 billion in revenue, Warner Music Group is one of the largest music companies in the world. More than 80% of Warner’s revenue comes from recorded music, while the remainder is generated from music publishing.

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