Rosenblatt Starts Warner Brothers Discovery (WBD) at Sell

Rosenblatt analyst Barton Crockett initiates coverage on Warner Brothers Discovery (NASDAQ: WBD) with a Sell rating and a price target of $20.00.

The analyst commented, "Warner Bros. Discovery completed their massive media merger on April 8. This deal improves both companies' positions via the ability to rationalize and streamline costs and product offerings. But it does nothing to create new hit shows that would not have been made already by these companies separately. And it doesn't change the fact that their streaming investments accelerate headwinds for secularly challenged TV channels. I see this netting out to a muted long-term trajectory in cash flow, and launch coverage with a Sell rating, and $20 price target."

For an analyst ratings summary and ratings history on Warner Brothers Discovery click here. For more ratings news on Warner Brothers Discovery click here.

Shares of Warner Brothers Discovery closed at $24.16 yesterday.

You May Also Be Interested In

• Goldman Sachs Upgrades Plains GP Holdings, L.P (PAGP) to Neutral
• BTIG Upgrades Medtronic, Inc. (MDT) to Buy
• Freedom Broker Starts Norwegian Cruise (NCLH) at Buy