In a report released yesterday, Ivan Feinseth from Tigress Financial initiated coverage with a Buy rating on Warner Music Group (WMG). The company’s shares closed last Tuesday at $29.50.
According to TipRanks.com, Feinseth is a top 100 analyst with an average return of 15.8% and a 67.6% success rate. Feinseth covers the Technology sector, focusing on stocks such as Microsoft, Qualcomm, and Akamai.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Warner Music Group with a $33.64 average price target, implying a 7.4% upside from current levels. In a report issued on June 29, RBC Capital also initiated coverage with a Buy rating on the stock with a $40.00 price target.
See today’s analyst top recommended stocks >>
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 4.88M.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
