A recent parade of bulls continues with one analyst expressing confidence in management's debt reduction focus: 'We threw everything and the kitchen sink at a downside case scenario.'
Wolfe’s Peter Supino joined the parade of WBD bulls on Friday, upgrading the stock from “peer perform” to “outperform” and setting a price target of $20, after previously listing it as NA for “not applicable,” in a report entitled “Finding Their Sea Legs.”
While traditional TV networks units are being hit by Hollywood’s streaming pivot, investors may be too bearish on WBD’s outlook here, the Wolfe expert also suggested, sharing: “We’re bearish on the linear pay-TV outlook, but the networks generate lots of cash and will for many years.” Meanwhile, Wells Fargo’s Steven Cahall upgraded his WBD rating from “equal weight” to “overweight” on Friday, while boosting his stock price target by $7 to $20. For him, it was mostly about assessing the downside risk to debt reduction efforts.
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