Warner Bros. Discovery price target raised to $20 from $13 at Barclays

Barclays raised the firm’s price target on Warner Bros. Discovery (WBD) to $20 from $13 and keeps an Equal Weight rating on the shares as part of a Q3 earnings preview. The firm expects media earnings to be impacted by “idiosyncratic variables.” Structural viewership pressure across linear networks continued in Q3 even as streaming engagement growth remains subdued at premium streaming services, the analyst tells investors in a research note.