Barrington raised the firm’s price target on Warner Bros. Discovery (WBD) to $16 from $15 and keeps an Outperform rating on the shares after the company announced it will be adjusting its corporate structure to two divisions. The new structure is viewed as better positioning Warner Bros. to capitalize on strategic opportunities that may arise in the media industry, cleaning up structural issues in the company in its current organizational structure, the analyst tells investors in a research note. The firm says Warner Bros.’ continued progress on streaming profitability is encouraging.
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