Warner Music Hit By Streaming Volatility And Execution Risks: Analyst

BofA Securities analyst Jessica Reif Ehrlich downgraded Warner Music Group Corp WMG from Neutral to Underperform and lowered the price target from $33 to $30. The price target is approximately 12 times the calendar year 2025 OIBDA (previously 13 times the 2025 OIBDA). Given the analyst's better long-term growth outlook, the multiple represents an approximately 25% premium to its media and entertainment coverage universe. Also Read: Sony Eyes $500M Deal for Pink Floyd's Iconic Music Catalog: Report Warner Mu ...