BofA analyst Jessica Reif Ehrlich raised the firm’s price target on Warner Bros. Discovery (WBD) to $24 from $16 and keeps a Buy rating on the shares. A standalone entity with Warner’s streaming and studio assets would generate a bidding war among potential buyers, argues the analyst, who believes a split can garner the greatest potential value. The firm also continues to believe the market underestimates the Discovery Global business, the analyst tells investors.
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