Wolfe Research Upgrades Warner Bros. Discovery (NASDAQ:WBD) to “Outperform”

Warner Bros. Discovery (NASDAQ:WBD – Get Rating) was upgraded by Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage currently has a $20.00 price target on the stock. Wolfe Research’s price target would suggest a potential upside of 39.47% from the company’s current price.

WBD has been the subject of a number of other research reports. Wells Fargo & Company raised shares of Warner Bros. Discovery from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $13.00 to $20.00 in a report on Friday. Macquarie upped their price target on shares of Warner Bros. Discovery from $16.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, January 31st. Morgan Stanley upped their price target on shares of Warner Bros. Discovery from $14.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, January 30th. Guggenheim raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $16.50 price target for the company in a report on Wednesday, January 11th. Finally, Rosenblatt Securities upped their price target on shares of Warner Bros. Discovery from $9.00 to $11.00 and gave the stock a “sell” rating in a report on Friday, February 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.31.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock opened at $14.34 on Friday. The company has a 50-day simple moving average of $14.46 and a two-hundred day simple moving average of $12.55. Warner Bros. Discovery has a twelve month low of $8.82 and a twelve month high of $27.50. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $34.85 billion, a price-to-earnings ratio of -5.47, a price-to-earnings-growth ratio of 0.94 and a beta of 1.50.

Hedge Funds Weigh In On Warner Bros. Discovery

Several institutional investors and hedge funds have recently added to or reduced their stakes in WBD. RNC Capital Management LLC acquired a new stake in shares of Warner Bros. Discovery during the third quarter worth $2,327,000. McIlrath & Eck LLC bought a new position in Warner Bros. Discovery during the third quarter worth $44,000. Wedbush Securities Inc. bought a new position in Warner Bros. Discovery during the third quarter worth $993,000. HGK Asset Management Inc. bought a new position in Warner Bros. Discovery during the third quarter worth $3,187,000. Finally, Community Bank of Raymore bought a new position in Warner Bros. Discovery during the third quarter worth $996,000. 55.18% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Company Profile

(Get Rating)

Warner Bros. Discovery, Inc operates as a media and entertainment company. It creates and distributes a portfolio of content and brands across television, film, and streaming. Its brands and products include Discovery Channel, discovery+, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, Warner Bros.