Warner Bros Discovery Stock Downgraded
The bank’s researchers quickly downgraded their rating for WBD stock from “buy” to “hold” on Friday — the same rating they gave to Netflix, which is reeling from two consecutive quarters of subscriber losses. Wells Fargo also downgraded its WBD stock-price target from $42 to $19. Shares closed under $15 on Friday, down 17 percent from the previous day’s close. Warner Bros. Discovery competitors Disney, Comcast, Netflix, and Paramount “are having a tough time growing their streaming/DTC (direct-to-consumer) businesses and turning profits, and that’s without the added baggage of a major merger integration project,” the researchers wrote....