Credit Suisse Sees 19.2% Upside In This Stock As Streaming Industry Gains Steam - Warner Music Gr (NASDAQ:WMG)

Credit Suisse analyst Meghan Durkin upgraded Warner Music Group Corp WMG to Outperform from Neutral with a price target of $48, up from $37, implying a 19.2% upside.
Warner is well-positioned as one of the top three music labels globally, benefitting from the global transition to on-demand music streaming, Durkin reasons.
Durkin sees further upside in the stock as its growth outlook, margin profile, and valuation "become clarified."
Durkin sees "healthy" ongoing streaming growth at Warner Music's Recorded Music segment through FY25, including mid-teens growth from paid subscriptions and advertising-supported streaming platforms.
At the same time, new revenue should "continue to layer on" from new partners in social, gaming, and fitness industries, Durkin adds.
Price Action: WMG shares traded higher by 6.18% at $42.75 in the premarket session on the last check Tuesday.