This record label stock is set to benefit as the music industry shifts towards an updated streaming payment model designed to better award artists, UBS says.
Deals with emerging music platforms and a move towards newer streaming payment models are set to boost Warner Music Group , according to UBS. The bank upgraded shares of the record label conglomerate to buy from neutral in a Monday note. Analyst Batya Levi's price target of $37, up from $34, implies a potential upside of 19% from the stock's close of $31.09 on Monday afternoon.
new monetization opportunities from emerging platforms and improving stream share to provide upside to the Street," Levi wrote. Additionally, the analyst believes that Warner Music stands to benefit as the music industry moves towards new deals designed to better reward artists. Simultaneously, these updated music streaming payment models should reduce fraudulent non-music streams.
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