Seaport Research downgraded Warner Bros. Discovery (WBD) to Neutral from Buy without a price target following news of a new Paramount Skydance (PSKY) hostile offer at $30 per share. There will be 12-18 months of “time value of money impact on the offered values from here,” the analyst tells investors in a research note. Seaport also sees headline and regulatory uncertainty risk. As such, Warner shares have limited upside potential from here, contends the firm.
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