Truist analyst Matthew Thornton raised the firm’s price target on Warner Music (WMG) to $39 from $35 and keeps a Buy rating on the shares. Consensus estimates on the stock are "very reasonable", the analyst tells investors in a research note, also noting that among the company’s "key potential catalysts" are a TikTok deal renewal and price increases at its largest distributor Spotify (SPOT).
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Published first on TheFly
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