UBS raised the firm’s price target on Warner Bros. Discovery (WBD) to $20 from $10 and keeps a Neutral rating on the shares. Shares have moved up in recent weeks in anticipation of a bid for the company from Paramount Skydance (PSKY), with its hiring of Makan Delrahim, former head of DOJ’s anti-trust division, as Chief Legal Officer kicking things into higher gear, the analyst tells investors in a research note. The firm believes the company is moving ahead with its planned break-up.
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