Warner Bros Discovery up after BofA PT raise on studios and streaming strength
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Warner Bros Discovery's WBD.O shares up 1.4% at $19.14
Brokerage BofA raises PT to $24 from $16, reiterates "buy" rating
BofA anticipates WBD's Q3 will reflect a continuation of strong momentum in studios and streaming, but continued challenges in linear advertising
As a standalone entity, WBD's streaming and studio assets would generate a bidding war amongst potential buyers; BofA believes a split can garner the greatest potential value
WBD has continued strong performance at the box office and appears on track to outperform its target of $2.4 billion in CY2025 studios' EBITDA — brokerage
Up to last close, stock had risen over 70% YTD
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