KeyBanc raised the firm’s price target on Warner Bros. Discovery (WBD) to $14 from $11 and keeps an Overweight rating on the shares on higher estimates and to reflect incremental confidence in improving Studios and DTC profitability, along with Comcast (CMCSK) (CMCSA) affiliate renewal. The firm sees the Studios returning to historical profitability levels as a key catalyst for Warner Bros. Discovery.
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