Why Is Warner Bros Discovery (WBD) Stock Up Today?


  • Warner Bros Discovery (WBD) stock is on the move Wednesday.
  • This follows several bits of praise from analysts.
  • The price of WBD stock gained in pre-market trading today.
WBD Stock. The logo of the new Warner Bros Discovery company on smartphone screen.

Source: Jimmy Tudeschi / Shutterstock.com

Warner Bros Discovery (NASDAQ:WBD) stock is on the rise Wednesday after several analysts praised the company following its merger last year.

Let’s start with Goldman Sachs analyst Brett Feldman, who reiterated a “buy” rating and price target of $19 for WBD stock. To put that in perspective, the analyst consensus for WBD is “moderate buy” with a price target of $22.18 per share.

To go along with that, Feldman also said he expects Warner Bros Discovery to see an increase in EBITDA growth this year. This saw the Goldman Sachs analyst naming WBD stock as a “favorite media stock” for 2023.

More Analyst Takes on WBD Stock

Next up we have Bank of America Global Research analyst Jessica Reif, who reiterated a “buy” rating for WBD stock as well as a $21 price target. That represents potential upside of about 67% from yesterday’s close.

The Bank of America Global Research analyst said the following in a note obtained by Yahoo! Finance:

“At this point, the majority of heavy lifting (related to restructuring charges etc.) has been completed, direct to consumer (DTC) losses peaked in ’22 with a path to breakeven in ’24 and the cyclical headwinds should abate as macro conditions improve.”

Finally, Guggenheim analysts upgraded WBD stock from a “neutral” rating to a “buy” rating today. The firm continues to maintain its price target of $16.50 per share.

WBD stock is up slightly Wednesday morning after spiking in pre-market trading.

Investors looking for all of the latest stock market news are in the right place!

InvestorPlace has all of the hottest stock market news traders need to know about on Wednesday! That includes the biggest pre-market stock movers this morning, as well as the latest details on Coinbase (NASDAQ:COIN) and the housing market. You can catch up on that news at the following links!

More Wednesday Stock Market News

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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