Discovery stock jumped today as a formerly skeptical Wall Street is increasingly out pounding the table for the stock ahead of the David Zaslav-led company’s merger with WarnerMedia.
The shares topped $30 during the session before closing at $29.34, up 2%. The upswing continued a rally that started last week on an upgraded ‘buy’ rating from BofA Securities and others weighing in. BofA analyst Jessica Reif Ehrlich said then, “We believe Warner Bros. Discovery has the potential to be the most dynamic global media company.” That helped the shares jump 20%. Today, in a follow-up note titled “Stage is set and the show is about to start,” she boosted her fourth-quarter revenue, free cash flow and Eps estimates and said she’s encouraged by operational momentum heading into the merger.
Also today, Ubs analyst John Hodulik anticipated a clean close to Discovery’s deal with AT&T early in the second quarter. In...
The shares topped $30 during the session before closing at $29.34, up 2%. The upswing continued a rally that started last week on an upgraded ‘buy’ rating from BofA Securities and others weighing in. BofA analyst Jessica Reif Ehrlich said then, “We believe Warner Bros. Discovery has the potential to be the most dynamic global media company.” That helped the shares jump 20%. Today, in a follow-up note titled “Stage is set and the show is about to start,” she boosted her fourth-quarter revenue, free cash flow and Eps estimates and said she’s encouraged by operational momentum heading into the merger.
Also today, Ubs analyst John Hodulik anticipated a clean close to Discovery’s deal with AT&T early in the second quarter. In...
- 1/13/2022
- by Jill Goldsmith
- Deadline Film + TV
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