BofA upgraded Warner Music (WMG) to Neutral from Underperform with a price target of $33, up from $28. Recent commercial agreements with DSPs will provide greater visibility and predictability in the subscription streaming business beginning in 2026, and there should be a clear path to healthier earnings growth with the recent cost savings announcement, the analyst tells investors in a research note. A potential upcoming TikTok renewal is likely to lead to a step up in Warner’s emerging streaming revenue, the firm says.
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Read More on WMG:
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