Analyst: WMG Stock Can Deliver "Sustainable Growth"

At least two analysts hiked their price targets as well

Jake Scott

Deputy Editor

Dec 19, 2022 at 2:58 PM

Warner Music Group Corp (NASDAQ:WMG) is 1.4% higher to trade at $34.12 this afternoon, following no less than two bull notes from analysts.

Atlantic Equities upgraded WMG to "overweight" from "neutral" and hiked its price target to $41 from $34, saying the music streaming company can deliver sustainable growth -- potentially 10% annually for 10 years -- despite the difficult economic backdrop. Morgan Stanley also raised its price target to $41 from $38.

After briefly trading above the 320-day moving average earlier today -- which its only closed above once in the last nine months -- WMG is once again facing off with this trendline. Coming upon the end of the year, the shares boast a 46.9% quarterly lead.

WMG Chart December 192022

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.