In a report released yesterday, Ivan Feinseth from Tigress Financial reiterated a Buy rating on Warner Music Group (WMG). The company’s shares closed last Thursday at $38.20, close to its 52-week high of $39.19.
According to TipRanks.com, Feinseth is a 5-star analyst with an average return of 19.6% and a 71.4% success rate. Feinseth covers the Technology sector, focusing on stocks such as Alphabet Class A, Cisco Systems, and Microsoft.
Warner Music Group has an analyst consensus of Strong Buy, with a price target consensus of $40.00, implying a 4.6% upside from current levels. In a report issued on December 17, Morgan Stanley also upgraded the stock to Buy with a $40.00 price target.
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Warner Music Group’s market cap is currently $19.39B and has a P/E ratio of -21.00. The company has a Price to Book ratio of -5.13.
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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.
