Bernstein Upgrades Discovery, Cuts Price Target By 7%

November 1, 2021 1:32 PM | 1 min read |

Bernstein analyst Todd Juenger upgraded Discovery Inc DISCA to Market Perform from Underperform with a price target of $26, down from $28, implying a 5.7% upside.
The analyst continues to see a long list of grave concerns. Still, the market seems also to share those concerns and has driven the stock price down to a level where he can no longer argue that the risk/reward for investors skews significantly negative from here.
Juenger believes the market is already pricing the stock to miss its streaming revenue guide, EBITDA guide, or both.
Discovery is one of the largest global media providers, with over 2 billion cumulative subscribers in over 220 countries.
Price Action: DISCA shares traded higher by 4.52% at $24.50 on the last check Monday.