Warner Music Group (WMG) Receives a New Rating from a Top Analyst

By Carrie Williams

In a report released yesterday, Ivan Feinseth from Tigress Financial initiated coverage with a Buy rating on Warner Music Group (WMGResearch Report). The company’s shares closed last Tuesday at $29.50.

According to TipRanks.com, Feinseth is a top 100 analyst with an average return of 15.8% and a 67.6% success rate. Feinseth covers the Technology sector, focusing on stocks such as Microsoft, Qualcomm, and Akamai.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Warner Music Group with a $33.64 average price target, implying a 7.4% upside from current levels. In a report issued on June 29, RBC Capital also initiated coverage with a Buy rating on the stock with a $40.00 price target.

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The company has a one-year high of $34.76 and a one-year low of $26.99. Currently, Warner Music Group has an average volume of 4.88M.

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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.