Analyst: Warner Bros Discovery Stock Will Regain Footing

The security's recent struggles come amid massive broader-market losses

Jake Scott

Deputy Editor

Jun 30, 2022 at 9:57 AM

Shares of Warner Bros Discovery Inc (NASDAQ:WBD) were last seen down 1.3% at $13 despite a bull note from Benchmark. The analyst initiated coverage with a "buy" rating and a $26 price target, after expressing confidence that the media concern will "regain their footing," despite the market's recent streaming aversion and leveraging issues.

In its note, Benchmark pointed out WBD's underperformance in tandem with the broader market since its April 11 spinoff. Year-to-date, Warner Bros Discovery stock stands 44.1% lower. Should today's negative price action hold, it could serve as an intriguing entry point, as the security trades near yesterday's 12-year low of $12.91.

Circling back to analyst sentiment, the brokerage bunch was split on Warner Bros Discovery stock coming into today. Of the 14 in coverage, seven rated WBD a "hold" or worse, which leaves the security open to additional bull notes. Meanwhile, the 12-month consensus price target of $33.29 is a $159.2% premium to current levels.

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