Why did BofA maintain its Neutral rating?

Due to expectations of market share normalization in Q3, while the company continues to benefit from music industry growth.

What is the price target for WMG?

The price target is $35 per share.

Did BofA change its rating on Warner Music?

No, the rating remained Neutral, unchanged from before.

BofA Maintains Neutral Rating on Warner Music with $35 Target

Bank of America maintained its Neutral rating on Warner Music Group with a $35 price target, expecting market share normalization in the fiscal third quarter while the company continues to benefit from broader growth trends in the music industry.

July 8, 2026

2 min read

Source: Proactive

Key Numbers

price target

$35

Bank of America (BofA) has maintained its Neutral rating on Warner Music Group Corp (NASDAQ:WMG) with a price objective of $35, according to a report released today.

Rating Change

Current Rating: Neutral
Price Target: $35
Previous Rating: Neutral (unchanged)

Analyst Rationale

BofA analysts expect Warner Music to see a normalization in market share during its fiscal third quarter, while continuing to benefit from positive growth trends in the broader music industry. The report did not provide specific revenue or earnings estimates.

Context

The assessment comes as the global music industry shifts toward digital streaming and artificial intelligence, with Warner Music focusing on AI investments. No other analysts have issued similar comments yet. WMG shares have shown mixed performance over the past year.

What to Make of It

The Neutral rating reflects a cautious view from BofA, expecting stable market share without significant growth, but continued benefit from sector trends. Investors are advised to watch the company's fiscal Q3 results for clearer signals.

Frequently Asked Questions

The current rating is Neutral with a $35 price target.

Found this useful? Share it

This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.