Warner Music Group gains after BofA upgrade

Warner Music

09/07/2025 17:03

** Shares of media company Warner Music Group WMG.O rise 3% to $30.37

** BofA upgrades WMG's rating to "neutral" from "underperform", raises PT to $33 from $28

** WMG's recent commercial agreements with demand-side platforms such as Spotify will provide greater visibility and predictability in the subscription streaming business - brokerage

** Coupled with the cost-savings announcement last week, there should be a clear path to healthier earnings growth, BofA says

** WMG said last week it plans to save $200 million by reducing headcount

** Barclays also raises WMG's PT to $30 from $28

** Up to last close, shares down ~5% YTD

(Reporting by Juby Babu in Mexico City)

((Juby.Babu@thomsonreuters.com;))