Barclays analyst Kannan Venkateshwar raised the firm’s price target on Warner Music (WMG) to $30 from $28 and keeps an Equal Weight rating on the shares as part of a Q2 earnings preview for the media group. Legacy media earnings could surprise to the upside to some extent, but the valuation debate will likely remain around corporate actions, the analyst tells investors in a research note.
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Read More on WMG:
- Warner Music upgraded at BofA on clearer path to healthier earnings growth
- Warner Music upgraded to Neutral from Underperform at BofA
- Warner Music price target raised to $33 from $32 at JPMorgan
- Warner Music Group: Strategic Partnerships and Restructuring Drive Buy Rating
- Warner Music price target raised to $34 from $32 at Bernstein