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Warner Bros Discovery falls after KeyBanc downgrades stock to 'sector weight'

ReutersSep 26, 2025 10:47 AM
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Shares of media firm Warner Bros Discovery WBD.O fall 1.3% to $19.5 premarket

KeyBanc downgrades stock to "sector weight" from "overweight"

Brokerage says stock's valuation has gotten ahead of the fundamentals after reports on a potential takeover

"We have no way of knowing if a deal will ultimately materialize and, frankly, are nervous from reports suggesting (CEO David)Zaslav wants $40/sh and a bidding war" - KeyBanc

12 of 27 brokerages rate the stock "buy" or higher, 15 "hold"; their median PT is $14 - data compiled by LSEG

Up to last close, stock had risen 87% YTD

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