JPMorgan analyst Sebastiano Petti would be a buyer of Warner Music Group shares at current levels and reiterates an Overweight rating on the name with a $35 price target. The firm expects a reacceleration in recorded music streaming trends and believes Warner could further benefit from potential paid streaming price increases and renewals in the coming quarters. It finds the stock attractively valued ahead of the reacceleration.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on WMG:
- Warner Music initiated with a Neutral at UBS
- AI crushed music label stocks, but won’t kill them, Barron’s says
- 3 Best Stocks to Buy Now, 5/16/2023, According to Top Analysts
- Warner Music Group Corp. to Participate in J.P. Morgan Global Technology, Media and Communications Conference
- Warner Music Group Corp. Announces Quarterly Cash Dividend