Redburn Atlantic analyst Agnieszka Pustula upgraded Warner Music to Neutral from Sell with a price target of $21, up from $17. Warner Music’s new strategy, “less demanding” short-term expectations, lower capitalized advances and 30% valuation discount to Universal Music across various metrics make it the firm’s relative preference, the analyst tells investors in a research note. Redburn is encouraged by the strategic realignment of Warner Music.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on WMG:
- Warner Music Amends Senior Loan, Incurs New Obligations
- Warner Music Group Extends Loan Maturity and Refinances
- Warner Music Group Corp. to Conduct Earnings Conference Call on Thursday, February 8, 2024
- The media stocks to own in 2024, according to Wells Fargo
- Warner Music price target raised to $40 from $38 at Morgan Stanley
