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Discovery +3.2% as Credit Suisse bumps to Outperform on ad growth

Oct. 10, 2018 9:14 AM ETWarner Bros. Discovery, Inc. (WBD) StockWBDBy: Jason Aycock, SA News Editor2 Comments
  • Discovery (NASDAQ:DISCA) is up 3.2% premarket after an upgrade to Outperform by Credit Suisse, from Neutral.
  • The firm sees revenue growth being driven by improving ratings pushed by the company's merger with Scripps Networks. Looking into Nielsen trends had led analyst Douglas Mitchelson to boost expectations for U.S. revenue and led to "increased confidence in our above-Street EBITDA estimates." He expects ads to drive revenue growth from 1% in 2018's second quarter to 4% by Q1 2019. (h/t Bloomberg)
  • The firm raised its price target to $40 from $30, implying 24% upside.

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