Credit Suisse Downgrades Warner Music Group (WMG) to Hold

By Carrie Williams

Warner Music Group (WMGResearch Report) received a Hold rating and a $37.00 price target from Credit Suisse analyst Brian W Russo yesterday. The company’s shares closed last Monday at $35.20.

Russo has an average return of 17.7% when recommending Warner Music Group.

According to TipRanks.com, Russo is ranked #3699 out of 7210 analysts.

Currently, the analyst consensus on Warner Music Group is a Strong Buy with an average price target of $39.25.

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The company has a one-year high of $39.19 and a one-year low of $25.61. Currently, Warner Music Group has an average volume of 941.6K.

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With about $3.5 billion in revenue, Warner Music Group is one of the largest music companies in the world. More than 80% of Warner’s revenue comes from recorded music, while the remainder is generated from music publishing.