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Warner Music price target lowered to $41 from $43 at UBS

UBS lowered the firm’s price target on Warner Music (WMG) to $41 from $43 and keeps a Buy rating on the shares. UBS expects sentiment on Warner Music to improve in 2025 with high single digit subscription growth, stable to improving stream share, and potential upside from the launch of a premium tier in the first half and Digital Service Providers price increases in 2H, but recent FX moves will weigh on near-term trends like margin expansion guidance, the analyst tells investors in a research note.

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