Benchmark analyst Matthew Harrigan raised the firm’s price target on Warner Bros. Discovery (WBD) to $30 from $25 and keeps a Buy rating on the shares to reflect the firm’s $30 sum-of-the-parts analysis through 2030, noting that the firm’s prior $25 target constituted an “as is” public market assessment rather than a breakup analysis. Though the firm is “quite constructive” on the benefits of the board approved Netflix (NFLX) offer, timely regulatory approval “appears problematical at best,” the analyst added.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WBD:
- Netflix downgraded to Neutral from Buy at Rosenblatt
- Warner deal adds ‘noise to a once clean’ Netflix story, says Jefferies
- Netflix downgraded to Hold from Buy at Pivotal Research
- All Eyes on NFLX Stock! Why Netflix-Warner Bros Deal Spooked Investors
- Trump Says Netflix-Warner Bros. Deal ‘Could Be a Problem’ – Needs Review