Warner Bros Discovery Stock Sinks on Analyst Coverage

Analysts were split towards the security coming into today

Deputy Editor
Jun 16, 2022 at 10:31 AM
facebook twitter linkedin


Warner Bros Discovery Inc (NASDAQ:WBD) is down 7.6% at $13.72 this morning, after J.P. Morgan Securities resumed coverage of the equity with a "neutral" rating, as well as a $22 price target, noting the macroeconomic environment could pressure ad spending. The brokerage also highlighted waning direct-to-consumer enthusiasm, casting doubt over the company's ability to scale services internationally.

Coming into today, analysts were split on Warner Bros Discovery stock, with seven rating it a "strong buy," against six at a "hold" or worse. What's more, the 12-month consensus price target of $33.85 is a staggering 147% premium to current levels, meaning more bear notes could be on the horizon. 

The security is today pacing for its sixth loss in seven sessions, as well as its lowest close since August 2009. The 30-day moving average has been pressuring shares lower since April, with yesterday's rally losing rally at the $15 mark.  Year-over-year, Warner Bros Discovery stock is down roughly 55%.

 

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners