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Warner Music price target raised to $40 from $36 at JPMorgan

JPMorgan analyst David Karnovsky raised the firm’s price target on Warner Music (WMG) to $40 from $36 and keeps an Overweight rating on the shares. The firm updated estimates ahead of the fiscal Q4 report to reflect recent trends. The analyst sees upside to Street estimates and catalysts in digital price announcements.

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