Deutsche Bank Aktiengesellschaft Drops Price Target on Warner Music Group

Warner Music Group price target

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Deutsche Bank Aktiengesellschaft drops its price target on Warner Music Group as WMG becomes the subject of several financial entities’ research reports.

Warner Music Group’s price objective was decreased by stock analysts at Deutsche Bank Aktiengesellschaft from $35 to $30, as evidenced by a research note. The new price objective suggests a potential increase of 25.37% from the stock’s previous close, but Warner Music Group has recently been the subject of many other research reports.

Truist Financial decreased its price objective on WMG shares from $40 to $35, while the Goldman Sachs Group set its target price for the company at $32. Both set a “buy” rating for the company. Citigroup dropped its price target on WMG from $31 to $27 and set a “neutral” rating on the stock.

In total, two equities research analysts have rated the stock with a “sell” rating, two have issued a “hold” rating, and eleven have assigned a “buy” rating to the company’s stock. The Warner Music Group stock currently has an average rating of “moderate buy” and an average target price of just over $38.

Many significant investors have recently modified their WMG holdings, including SG Americas Securities LLC, which increased its stake in the company by more than 14% in the first quarter — 80,563 shares worth over $3 million. By contrast, Assenagon Asset Management S.A. now owns over 1.2 million WMG shares, worth an estimated $47,118,000. 

Bank of Montreal Can now owns WMG stock valued at $11 million after buying 275,936 shares in the first quarter. Capital Square LLC raised its Warner Music Group shares by nearly 39%, with 7,135 shares valued at $270,000 after the 2,000 shares purchased during the quarter. Lastly, Oppenheimer Asset Management Inc. now owns 9,024 shares of the company’s stock with a $342,000 valuation. Other institutional investors, including hedge funds, own 22.44% of the company’s stock.

Warner Music Group conducts most of its operations primarily through its arsenal of record labels. In addition to industry mainstays Warner Records and Atlantic Records, WMG includes Asylum, Big Beat, Canvasback, East West, Erato, FFRR, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Roadrunner, Sire, Spinnin’ Records, Warner Classics, and Warner Music Nashville.