Wells Fargo Raises Warner Bros. Discovery (WBD) Price Target, Sees M&A Potential

Warner Bros. Discovery Inc. (NASDAQ:WBD) ranks among the best communication services stocks to buy now. Wells Fargo boosted its price target for Warner Bros. Discovery Inc. (NASDAQ:WBD) to $14 from $13 on September 11, retaining an Equal Weight rating on the company’s shares. The revision reflects Wells Fargo’s belief that Warner Brothers Discovery’s Studios and Networks unit might make an appealing merger and acquisition target.

According to the firm’s study of potential buyers, the company may be valued higher in a “blue sky” scenario, which could see a share price of more than $20.

Wells Fargo recognized Netflix as “the most compelling buyer” of Warner Bros. Discovery Inc. (NASDAQ:WBD) assets.

Warner Bros. Discovery Inc. (NASDAQ:WBD) is a media and entertainment company that is divided into three segments: DTC, Studios, and Network. Additionally, it provides content via a number of distribution channels.

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Disclosure: None. This article is originally published at Insider Monkey.