Warner Bros Discovery up; Barclays reinstates coverage at 'equal weight' - WBD News | RalliesWarner Bros Discovery up; Barclays reinstates coverage at 'equal weight'
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WBD• Barclays reinstates Warner Bros Discovery coverage
- Shares of Warner Bros Discovery WBD.O were up 0.71% at $28.27 premarket.
- Barclays reinstated coverage with "equal weight" and a $29 price target, a 3.3% premium to WBD's last close.
- The brokerage said WBD's investment case is primarily driven by the proposed sale to Paramount Skydance PSKY.O.
- It said a failed deal would leave WBD exposed to declining legacy TV networks and slower improvement in streaming earnings and cash flow.
- Four of 21 brokerages rate the stock "buy" or higher, 16 "hold" and 1 "sell"; their median price target is $31, according to data compiled by LSEG.
- Up to the last close, the stock was down 2.6% year to date.
