Wells Fargo Keeps Their Buy Rating on Warner Music Group (WMG)
In a report released today, Omar Mejias from Wells Fargo maintained a Buy rating on Warner Music Group, with a price target of $39.00.
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According to TipRanks, Mejias is a 3-star analyst with an average return of 10.9% and a 47.83% success rate. Mejias covers the Communication Services sector, focusing on stocks such as IMAX, Cinemark Holdings, and Warner Music Group.
In addition to Wells Fargo, Warner Music Group also received a Buy from Citi’s Jason Bazinet in a report issued on January 21. However, on January 20, TipRanks – OpenAI reiterated a Hold rating on Warner Music Group (NASDAQ: WMG).
Based on Warner Music Group’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.87 billion and a net profit of $109 million. In comparison, last year the company earned a revenue of $1.63 billion and had a net profit of $41 million
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is neutral on the stock. Last month, ARMIN ZERZA, the CFO of WMG bought 35,778.00 shares for a total of $1,006,077.36.
Read More on WMG:
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- Warner Music price target lowered to $40 from $41 at Citi
- Warner Music names Hannah Karp EVP, chief communications officer
- Warner Music upgraded to Overweight from Equal Weight at Morgan Stanley
- Warner Music price target lowered to $36 from $40 at Wolfe Research
- Warner Music price target lowered to $35 from $38 at Jefferies
