Warner Bros Discovery slips as Argus downgrades to 'Sell'
WBD•Argus Research downgraded Warner Bros. Discovery to “Sell,” saying its share price has effectively reached Paramount Skydance’s $31-per-share acquisition offer. WBD shares were marginally lower in premarket trading at $30.86.
1. Argus cuts rating
Argus Research downgraded Warner Bros. Discovery to “Sell,” saying the gap between its share price and Paramount Skydance’s $31-per-share acquisition offer had effectively closed. The brokerage said a recent settlement of a multistate attorneys general antitrust lawsuit clears the way for the acquisition and leaves little remaining upside for WBD.
2. Analyst views
The average rating of 21 analysts is “hold,” and their median price target is $31. Through its last close, WBD shares had risen about 7% this year.
