Benchmark Co. analyst Matthew Harrigan reiterated a Buy rating on Warner Bros today and set a price target of $18.00.
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Matthew Harrigan has given his Buy rating due to a combination of factors influencing Warner Bros. Discovery’s strategic and financial outlook. The company is expected to show progress in its strategic positioning and cost management, particularly in its Streaming and Studios segments, which are experiencing positive momentum despite challenges in Global Linear Networks.
Additionally, Warner Bros. Discovery’s content library is a significant asset, contributing to new streaming services and enhancing its value proposition. The company’s financial metrics, including a reasonable adjusted EBITDA target multiple and a promising free cash flow yield post-2025, further support the Buy rating. The success of recent and upcoming film releases, such as the Superman movie and future DC Studios projects, also bolsters confidence in the company’s growth potential.
In another report released on July 30, Barrington also reiterated a Buy rating on the stock with a $16.00 price target.