BofA Securities analyst Jessica Reif Ehrlich downgraded Warner Music Group (WMG) from Neutral to Underperform, citing concerns about the company’s long-term growth outlook and execution risks. The analyst believes the music industry’s growth potential may be less predictable than initially anticipated, and the company’s recent restructuring efforts could lead to execution risks. Ehrlich also lowered her revenue and OIBDA estimates for the fourth quarter and fiscal year 2025.
