WARNER BROS. DISCOVERY REPORTS SECOND-QUARTER 2024 RESULTS

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Warner Brothers Discovery (WBD) PT Lowered to $8 at JPMorgan

August 9, 2024 5:45 AM EDT

JPMorgan analyst Philip Cusick lowered the price target on Warner Brothers Discovery (NASDAQ: WBD) to $8.00 (from $10.00) while maintaining a Neutral rating.

The analyst comments "We update Warner Bros Discovery estimates following 2Q24 results. Similar to last quarter, WBD did not provide full-year EBITDA or FCF guidance on the call, though did once again reiterate expectations for profitability at DTC in 2024 and $1b+ of segment EBITDA in 2025. We now forecast 2024 total company EBITDA of $9.250b (vs. $9.72b... More