BofA raised the firm’s price target on Warner Bros. Discovery (WBD) to $16 from $14 and keeps a Buy rating on the shares. Warner Bros. Discovery’s Q2 earnings should reflect a strong quarter at the box office, offset by industry headwinds in linear, with the Studios segment showing major year over year EBITDA growth driven by a strong quarter at the box office, continued momentum in TV and easier comps, the analyst tells investors in a research note. The linear business remains challenged with strength in sports advertising but weakness across the board in general entertainment, the firm notes.
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