Tigress Financial lowered the firm’s price target on Warner Music to $44 from $52 and keeps a Buy rating on the shares. The analyst says growth in streaming continues to overcome weakness in recorded music, driven by the strength of its artist and content catalog combined with its ability to discover and develop the next generation of industry-leading artists. Warner remains well positioned to benefit from subscription streaming revenue growth, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WMG:
- M&A News: The Paramount (NASDAQ:PARA) Bidding War Goes into Extra Innings
- Paramount (NASDAQ:PARA) Merger Drama Not Over as Edgar Bronfman Comes Back
- Warner Music Group Corp. Announces Quarterly Cash Dividend
- Warner Music price target lowered to $36 from $42 at Deutsche Bank
- Warner Music price target lowered to $32 from $35 at Barclays
