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Warner Music price target raised to $34 from $32 at Bernstein

Bernstein raised the firm’s price target on Warner Music (WMG) to $34 from $32 and keeps an Outperform rating on the shares. The firm expects Warner to report 3 results in line with its and consensus’ expectations in early August, although a wild card exists in the amount of cash received for a legal settlement announced last month with the cable operator Frontier (FYBR).

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