- The stock price of Discovery, Inc. (NASDAQ: DISCA) (NASDAQ: DISCB) increased by over 18% during intraday trading today. This is why it happened.
The stock price of Discovery, Inc. (NASDAQ: DISCA) (NASDAQ: DISCB) increased by over 18% during intraday trading today. Investors are responding positively to a bullish research report.
BofA analyst Jessica Relf Ehrlich upgraded Discovery to a “Buy” rating from a “Neutral” rating with a price target of $45 — which was increased from $34. Ehrlich noted that the merger with WarnerMedia has the potential to create a global media powerhouse, driven by creative and content leadership.
And Ehrlich also believes Warner Bros. Discovery has the potential for being the most dynamic global media company and that Discovery’s risk/reward profile is extremely favorable at current share levels.
Going forward, Ehrlich sees potential for significant revenue and cost synergies as well.
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