Benchmark raised the firm’s price target on Warner Bros. Discovery (WBD) to $32 from $30 and keeps a Buy rating on the shares while removing the stock from Benchmark’s Best Ideas list. The takeout process will almost certainly support the stock price in any substantial market selloff and the stock and probably Netflix (NFLX) could soon marginally benefit from a possible $27.75 all-cash offer in lieu of the structure that included Netflix stock, the analyst tells investors.
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