Deutsche Bank reinstates coverage on Warner Music Group (WMG) at Hold
Deutsche Bank reinstates coverage on Warner Music Group (NYSE: WMG) with a Hold rating and $13 price target. The firm said, Warner Music's improvements in redefining its product are not outpacing the music industry's woes; a 19% decline in CD sales in the U.S. in 1H07 shows huge deterioration from 2006?s pace of down 8%, leading to Warner?s recorded music sales slowing to down 6-7% in FY07 from up 3% in FY06."
You May Also Be Interested In
- UPDATE: Goldman Sachs Starts Owens Corning (OC) at Sell
- William Blair Starts PayPal (PYPL) at Outperform
- UPDATE: Canaccord Genuity Upgrades NuVasive (NUVA) to Buy
Create E-mail Alert Related CategoriesNew Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!