In a report released today, Ivan Feinseth from Tigress Financial reiterated a Buy rating on Warner Music Group (WMG). The company’s shares closed last Thursday at $33.57.
According to TipRanks.com, Feinseth is a top 100 analyst with an average return of 19.3% and a 71.1% success rate. Feinseth covers the Technology sector, focusing on stocks such as Hims & Hers Health, Alphabet Class A, and Cisco Systems.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Warner Music Group with a $41.50 average price target, implying a 23.6% upside from current levels. In a report issued on May 5, Morgan Stanley also maintained a Buy rating on the stock with a $44.00 price target.
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Warner Music Group’s market cap is currently $17.27B and has a P/E ratio of -24.00. The company has a Price to Book ratio of -4.62.
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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.
