Neutral is what passes for good news in the music business these days.
It was enough, at least, to move Warner Music shares 10% early today after Goldman Sachs, out of relatively nowhere, upgraded the Edgar Bronfman’s outfit from its previous sell ranking.
Is it that WMG has some new breakthrough artist or some cutting edge strategy? Nope.
According to digitalmusicnews, analyst Ingrid Chung likes “superior execution by WMG management” and “stabilizing music industry trends.”
Considering the carnage Guy Hands has seen trying to make EMI a worthwhile endeavour, neutral doesn’t seem so bad.
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