Guggenheim lowered the firm’s price target on Warner Music (WMG) to $40 from $44 and keeps a Buy rating on the shares. The firm, which updated its model given the 7.7% appreciation in the U.S. dollar index in calendar Q4, now forecasts a 1.5% forex revenue drag in fiscal Q1 and a 1.7% drag for the full fiscal year.
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Read More on WMG:
- Warner Music Group Updates CEO Compensation Structure
- Warner Music price target raised to $38 from $35 at Morgan Stanley
- Warner Music price target raised to $34 from $31 at Citi
- Warner Music price target lowered to $35 from $38 at Loop Capital
- Warner Music price target lowered to $31 from $32 at Barclays
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
