Warner Music price target lowered to $31 from $32 at Barclays

Barclays analyst Kannan Venkateshwar lowered the firm’s price target on Warner Music (WMG) to $31 from $32 and keeps an Equal Weight rating on the shares. While the company’s streaming revenue growth and guidance may have been a bit slower than expected, the selloff in the stock seems unwarranted, the analyst tells investors in a research note.