Warner Bros Discovery

WBD · NASDAQ

$30.95+$0.025 (+0.08%)TodayMarket closed · Oct 6, 8:05 AM ET

No price history for this range.

WBD analyst rating

HoldConsensus of 16 analysts over the last 12 months. 19% rate it a buy.

Strong buy0
Buy3
Hold11
Underperform1
Sell1

12-month price target · 16 analysts

Average $30.51 (−1.4% downside)

Low: $26.26
Now: $30.95
High: $32.81

Upgrades and downgrades

The latest rating actions, newest first

WBD analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Argus Research	Sep 29, 2026	Downgrade	Hold → Sell	—	61%
Morgan Stanley	Sep 22, 2026	Maintains	Equal-Weight	$29.00 → $31.00	50%
Barclays	Sep 17, 2026	Initiates	Equal-Weight	$29.00	56%
Argus Research	Aug 18, 2026	Maintains	Buy	$31.00	49%
Seaport Global	Jul 27, 2026	Downgrade	Buy → Neutral	—	63%
Seaport Global	Jun 29, 2026	Upgrade	Neutral → Buy	$31.00	63%
UBS	May 7, 2026	Maintains	Neutral	$30.00 → $31.00	55%
Guggenheim	May 7, 2026	Maintains	Neutral	—	54%
Freedom Broker	Mar 10, 2026	Maintains	Hold	$30.00 → $31.00	42%
Wells Fargo	Mar 9, 2026	Initiates	Equal-Weight	$31.00	53%

The case for and against

Updated Sep 30, 2026

Bull case

Warner Bros. Discovery is strategically positioned to capitalize on the rapidly growing streaming market through its strong presence with HBO Max and Discovery+, as well as its successful film and TV studios. The company's focus on bundling and expanding its bundled subscriber base will provide long-term benefits and efficiencies, and the pending Paramount Skydance transaction offers a potential for value realization. The company's ability to generate significant returns from its linear networks through international expansion and cross-platform utilization demonstrates its competitive advantage in the evolving media landscape.

Bear case

Warner Bros. Discovery is facing several risks to their investment thesis, including potential recessionary impacts on consumer spending and demand for their content, monetization challenges due to cord-cutting and increased competition for viewers' time, and the possibility of advertisers allocating more of their budgets to other forms of media. Additionally, the company's leveraged balance sheet and ongoing transaction and separation-related costs may have a negative impact on free cash flow. However, management expects free cash flow conversion to remain consistent with historical levels despite these challenges.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.