Evercore ISI lowered the firm’s price target on Warner Music (WMG) to $35 from $36 and keeps an Outperform rating on the shares. The firm is adjusting its model to primarily reflect foreign exchange pressures, telling investors that the strengthening dollar will weigh on both topline results and margins.
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Read More on WMG:
- Warner Music price target lowered to $40 from $44 at Guggenheim
- Warner Music Group Updates CEO Compensation Structure
- Warner Music price target raised to $38 from $35 at Morgan Stanley
- Warner Music price target raised to $34 from $31 at Citi
- Warner Music price target lowered to $35 from $38 at Loop Capital