Fly Intel: Top five analyst initiations » 10:0306/3006/30/20
PYPL, WMG, SONA, SITM, SQ
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. PayPal (PYPL) initiated with an Outperform at JMP Securities. 2. Warner Music (WMG) was initiated with a Hold at Loop Capital and a Neutral at Citi. 3. Southern National Bancorp (SONA) initiated with an Equal Weight at Stephens. 4. SiTime (SITM) initiated with an Outperform at William Blair. 5. Square (SQ) initiated with a Market Perform at JMP Securities. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
Moderna, PayPal coverage initiations among today's top calls on Wall Street » 09:5506/3006/30/20
MRNA, PYPL, SQ, SPOT, WMG, TME, ICPT, CLX
Check out today's top…
Warner Music initiated with a Hold at Loop Capital » 07:3406/3006/30/20
Loop Capital analyst Alan…
Loop Capital analyst Alan Gould initiated coverage of Warner Music with a Hold rating and $33 price target, though the analyst is positive on the company's position as the "only pure-play on the growth in digital streaming" from the content side, and he sees the stock as one of the best growth plays in traditional media. Streaming is set to grow at about 16% per year over the next 5 years, Gould estimates, modeling Warner Music's OIBDA margins increasing to nearly 23% by 2024 from 14% in 2019 amid a mix shift to digital from physical and due to economies of scale.
Warner Music initiated with a Neutral, $33 target at Citi » 06:5006/3006/30/20
Citi analyst Jason…
Citi analyst Jason Bazinet initiated coverage of Warner Music Group with a Neutral rating and $33 price target. All metrics suggest streaming music growth will continue, but at a more modest pace, Bazinet tells investors in a research note. If streaming subscription growth slows, labels will likely extract more from distributors, adds the analyst. Bazinet believes shares of Warner do not offer a compelling risk/reward profile at current levels.
Warner Music initiated with a Neutral at Citi » 06:2306/3006/30/20
Citi initiated coverage…
Citi initiated coverage of Warner Music Group with a Neutral rating and $33 price target.
Warner Music initiated with a Hold at Loop Capital » 16:0506/2906/29/20
Loop Capital initiated…
Loop Capital initiated coverage of Warner Music Group with a Hold rating and $33 price target.
Warner Music initiated with an Overweight at JPMorgan » 08:4306/2906/29/20
JPMorgan analyst Alexia…
JPMorgan analyst Alexia Quadrani initiated coverage of Warner Music Group with an Overweight rating and $40 price target. As the only pure play music content company, Warner is well positioned to benefit from the ongoing growth in paid music streaming globally, Quadrani tells investors in a research note. The analyst believes the shares will maintain a premium valuation.
Warner Music initiated with a Neutral at Macquarie » 08:4106/2906/29/20
Macquarie analyst Timothy…
Macquarie analyst Timothy Nollen initiated coverage of Warner Music with a Neutral rating and $32 price target.
Guggenheim starts Warner Music at Buy with $36 price target » 08:2706/2906/29/20
As previously reported,…
As previously reported, Guggenheim analyst Michael Morris initiated coverage of Warner Music Group with a Buy rating and $36 price target. Digital has supported a return to growth for the global music industry after nearly a decade of economic contraction and Warner Music is uniquely positioned to potentially benefit given it role as a key intellectual property owner and a facilitator of content creation, Morris tells investors. He expects financial results to come in above implied consensus expectations, driven by digital market and product expansion, while also believing the scarcity value of the company's assets can support multiple expansion, the analyst noted.
Warner Music initiated with an Equal Weight at Morgan Stanley » 08:1106/2906/29/20
Morgan Stanley analyst…
Morgan Stanley analyst Benjamin Swinburne initiated coverage of Warner Music Group with an Equal Weight rating and $32 price target. While he believes Warner Music should benefit from streaming music's attractive secular growth trends over time, Swinburne sees a balanced risk-reward at current levels given the lingering COVID risks, he tells investors.