Warner Music: Jefferies still a buyer
(CercleFinance.com) - The analyst highlights the group's market share performance following the announcement of Q3 results (i.
e. April-May-June).
Following this publication, Jefferies reiterates its Buy recommendation on the stock, with a target price of $38.
WMG's subscription revenue growth was 13.7% y-o-y, vs. UMG's 6.9% in the quarter - alleviating growing concerns about industry growth in the wake of UMG's numbers, analysts say.
WMG's outperformance was driven by strong content and potential market share gains. WMG's strong offering continues into the fourth quarter, with upcoming releases from Coldplay and David Guetta. We see this as a favorable configuration, Jefferies adds.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
e. April-May-June).
Following this publication, Jefferies reiterates its Buy recommendation on the stock, with a target price of $38.
WMG's subscription revenue growth was 13.7% y-o-y, vs. UMG's 6.9% in the quarter - alleviating growing concerns about industry growth in the wake of UMG's numbers, analysts say.
WMG's outperformance was driven by strong content and potential market share gains. WMG's strong offering continues into the fourth quarter, with upcoming releases from Coldplay and David Guetta. We see this as a favorable configuration, Jefferies adds.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.