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Benzinga
Benzinga
Business
Akanksha Bakshi

Warner Bros. Discovery Bidding War Unlikely As Analysts Doubt Takeover

Warner Bros Brandon Nispel Keybanc WBD Nasdaq Warner Bros Discovery Studios
Warner Bros. Discovery

KeyBanc's Brandon Nispel downgraded Warner Bros. Discovery (NASDAQ: WBD) to Sector Weight, arguing that takeover speculation has inflated shares beyond fundamentals.

He sees a 50% chance no deal happens and the stock falls back to $12, a 40% chance of a $25 Paramount Skydance (NASDAQ: PSKY) offer, and only a 10% chance of a bidding war lifting shares to $40—leaving the risk/reward neutral.

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