BofA lowered the firm’s price target on Warner Music (WMG) to $33 from $36 and keeps a Neutral rating on the shares. Following fiscal Q4 results, the firm raised its FY26 revenue and adjusted OIBDA forecasts “modestly,” but continues to view the risk/reward as somewhat balanced as it says recent commercial agreements with DSPs should provide greater visibility and predictability in the subscription streaming business.
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