Warner Bros. Discovery resumed with an Equal Weight at Wells Fargo

Wells Fargo resumed coverage of Warner Bros. Discovery (WBD) with an Equal Weight rating and $31 price target, Paramount Skydance’s (PSKY) acquisition price. The firm says “kudos to management” in their efforts to engage with potential buyers and deliver a solid result to shareholders. Wells now believes the saga has ended with Paramount’s agreement to acquire all of Warner Bros. for $31/share.