Warner Bros. Discovery (WBD) inventory is getting love from Wall Street to kick off 2023.
Shares of the embattled media big climbed 7% in mid-afternoon buying and selling on Tuesday after analysts at each Goldman Sachs and Bank of America signaled brighter days forward for the embattled leisure big.
“We estimate that WBD is finest positioned to drive EBITDA development, ramp [free cash flow], and de-lever its stability sheet in 2023 because it pursues $3.5 [billion] of merger synergies and relaunches its flagship streaming service,” Goldman Sachs analyst Brett Feldman wrote, itemizing the corporate because the agency’s “favourite media inventory” for 2023.
As buyers debate the long-term outlook for conventional media, WBD is best-positioned relative to rivals in Feldman’s view, with Goldman citing key execution catalysts like latest merger milestones and its upcoming streaming relaunch this spring.
Feldman maintains a Buy ranking on the inventory with a worth goal of $19 a share.
Shares of Warner Bros., which misplaced…
2023-01-10 13:43:56 Warner Bros. Discovery jumps 7% after Goldman names it ‘favourite media inventory’ for ’23
Post from finance.yahoo.com