BofA raised the firm’s price target on Warner Bros. Discovery (WBD) to $28.75 from $24 and keeps a Buy rating on the shares after Netflix (NFLX) announced a definitive agreement to acquire Warner Bros. Discovery’s (WBD) Studios and Streaming assets in a deal valued at $27.75 per share, comprised of $23.25 cash and $4.50 in stock. When combined with the implied remaining value of Discovery Global, the firm projects the total value to Warner shareholders is greater than $30 per share.
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