Warner Music Group (WMG) Gets a Hold Rating from Barclays

Barclays analyst Kannan Venkateshwar maintained a Hold rating on Warner Music Group (WMG) yesterday and set a price target of $30.00. The company’s shares closed last Wednesday at $28.64.

According to TipRanks.com, Venkateshwar is a 4-star analyst with an average return of 4.1% and a 56.3% success rate. Venkateshwar covers the Services sector, focusing on stocks such as Charter Communications, Sirius XM Holdings, and Walt Disney.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Warner Music Group with a $33.86 average price target, implying a 16.7% upside from current levels. In a report released yesterday, Morgan Stanley also maintained a Hold rating on the stock with a $33.00 price target.

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The company has a one-year high of $34.76 and a one-year low of $26.99. Currently, Warner Music Group has an average volume of 2.5M.

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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.

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