Analyst Jessica Reif Ehrlich of Bank of America Securities reiterated a Buy rating on Warner Bros (WBD – Research Report), retaining the price target of $14.00.
Jessica Reif Ehrlich’s rating is based on a combination of factors that suggest Warner Bros. Discovery holds potential for growth and value creation. Despite challenges in linear advertising due to a mixed market, there is optimism about the company’s direct-to-consumer (DTC) sector, which is expected to show improved profitability. Additionally, the gaming business is anticipated to become less of a drag, contributing to a recovery in the Studios segment.Moreover, Ehrlich points to the strategic transformation taking place within the company, including a new corporate structure aimed at enhancing strategic flexibility and unlocking shareholder value. The dissolution of the Venu joint venture and the potential recovery in advertising are seen as upcoming catalysts that could positively impact the company’s performance. These factors, alongside an attractive array of assets, underpin the reiteration of the Buy rating with a price objective of $14.
Reif Ehrlich covers the communications sector, focusing on movements such as Comcast, Warner Bros, and Sirius XM Holdings. According to TipRanks, Reif Ehrlich has an average return of 6. 6% and a good fortune rate of 51. 46% in advised stocks.
In the report published on January 10, Raymond James also reiterated a purchase score in the inventory with an objective of $ 12. 00.
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