In a report released today, Alan Gould from Loop Capital Markets maintained a Hold rating on Warner Music Group (WMG – Research Report), with a price target of $35.00. The company’s shares closed last Friday at $31.85.
Gould covers the Communication Services sector, focusing on stocks such as News Corp, Fox, and Charter Communications. According to TipRanks, Gould has an average return of 8.6% and a 57.58% success rate on recommended stocks.
In addition to Loop Capital Markets, Warner Music Group also received a Hold from Macquarie’s Tim Nollen in a report issued on November 22. However, on the same day, Evercore ISI maintained a Buy rating on Warner Music Group (NASDAQ: WMG).
WMG market cap is currently $16.5B and has a P/E ratio of 38.42.
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Warner Music Group (WMG) Company Description:
With about $3.5 billion in revenue, Warner Music Group is one of the largest music companies in the world. More than 80% of Warner’s revenue comes from recorded music, while the remainder is generated from music publishing.
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