Barclays lowered the firm’s price target on Warner Music (WMG) to $28 from $31 and keeps an Equal Weight rating on the shares. The firm says slower than expected growth is coming in a period of higher investment, which could limit investor interest despite structural tailwinds across the industry.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WMG:
- Warner Music Group Reports Mixed Q2 Results
- Warner Music Group’s Challenging Market Conditions Justify Hold Rating Amid Revised Growth Expectations
- Warner Music Group: Buy Rating Reaffirmed Despite Short-Term Challenges
- Warner Music reports Q2 EPS 7c, consensus 28c
- Amazon downgraded, Netflix upgraded: Wall Street’s top analyst calls