11:30 AM EST, 11/21/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our target by $5 to $33 based on improving fundamentals and a forward TEV/EBITDA of 10.7x that is still well below the three-year historical average at 15.8x. Our EBITDA estimate in FY 26 (Sep.) is $1.6B. With strong Q4 FY 25 (Sep.) results, we raise our FY 26 EPS estimate by $0.05 to $1.40 and start our FY 27 estimate at $1.65. Our revenue projections are $6.98B in FY 26 and $7.33B in FY 27, respectively. We look for WMG to drive mid-single-digit revenue growth and wider margins to support our earnings outlook. In our opinion, WMG is beginning to innovate and adjust to the secular changes to music distribution increasingly moving to digital and streaming. WMG's balance sheet remains highly leveraged, with total debt at $4.1B weighed against a cash balance of $532M. The company's cash provided by operating activities decreased $231M in Q4 FY 25, largely a result of higher spend investing in musical artists and other costs. Finally, free cash flow was $539M for FY 25 ($638M a year ago).