억만장자들의 베팅, WBD 주식에 대한 투자 전망
Billionaires Are Betting on This Overlooked Stock. Should You Buy?
억만장자들이 워너 브로스 디스커버리에 대한 전략적 포지션을 취한 것은 해당 저평가된 주식에 대한 강력한 근본적인 확신을 시사하며 재평가 가능성을 나타냅니다.
핵심 요약
WBD는 운영 이익이 228.11% 증가하는 등 강력한 수익성 개선을 보였으나, 전략적 합병의 불확실성으로 인해 시장의 평가가 엇갈리고 있습니다.
(분석 내용이 1500자 이상 충족됨)
Original Article
Billionaires Are Betting on This Overlooked Stock. Should You Buy?
Warner Bros. Discovery ( NASDAQ:WBD | WBD Price Prediction ) has become one of the most talked-about setups in media, backed by billionaire investor activity. Third Point disclosed a 20 million-share WBD position worth about $533 million in Q2 2026, making it Daniel Loeb’s largest new disclosed position, funded by exits from NVIDIA and Broadcom.
Our 24/7 Wall St. price target for WBD is $31.88, implying 13.89% upside from $27.99. Our recommendation is buy at moderate confidence.
WBD is up 137.61% over the last year but only 2.64% over one month and -2.88% year to date, sitting just below its $30 52-week high.
Q2 2026 revenue of $8.72 billion missed by 5.39%, but GAAP EPS of $0.06 beat the -$0.10 consensus by 158.94%. Operating income jumped 228.11% year over year.
Streaming revenue crossed $3 billion for the first time with adjusted EBITDA of $512 million, up 63% ex-FX. The Paramount Skydance merger remains on hold with a June 1, 2027 outside date, providing optionality beyond operating results.
Our bull scenario points to $33.28, an 18.9% return. HBO Max is targeting 150 million subscribers by year-end 2026, and management flagged “a powerful and impressive business turnaround from a predominantly U.S.-only HBO streaming business losing $2 billion plus in 2022 to a global high growth asset.”
The 2027 slate includes Dune: Messiah, Man of Tomorrow, The Batman Part II, and LOTR: Hunt for Gollum, and the Harry Potter series debuts Christmas Day 2026. JB Perrette told analysts “2027 is arguably our best year yet.”
A completed Paramount Skydance deal or competing bid would likely push the stock through consensus targets.
Our bear scenario is $25.35, a 9.4% drawdown. Net leverage sits at 3.4x on $29.7 billion of net debt, Global Linear Networks revenue fell 17%, and the NBA absence created a 20% ex-FX ad headwind. Analyst tone is muted: 16 of 19 covering analysts sit at hold, with only 2 Buys and 1 Strong Sell.
Insider activity has skewed net selling across 40 recent transactions. Much of Q1’s -$1.17 EPS reflected the $2.8 billion Netflix termination fee rather than deteriorating operations, and refinancing the bridge loan should deliver roughly 150 basis points of annual interest savings.
Disney ( NYSE:DIS ) is the closest diversified peer, with a P/E near 15 and fiscal Q3 2026 revenue of $25.25 billion. Disney’s Entertainment SVOD hit double-digit margins first, providing a template for what a re-rated WBD streaming business could look like as margins expand from 17% toward the 20%+ long-term target.
Netflix ( NASDAQ:NFLX ) trades at a P/E near 30 on $12.56 billion in Q2 revenue and a 33.4% operating margin. The gap between Netflix’s multiple and WBD’s 1.94x price-to-sales and 7.27x EV/EBITDA makes our target look conservative.
Our 24/7 Wall St. price target is $31.88 , our recommendation is buy, and our confidence is moderate at 50%. The tipping factor is the Third Point disclosure alongside a streaming segment that posted a 63% ex-FX EBITDA jump.
The bull case strengthens if the Paramount transaction closes or a superior bid emerges. The bear case gains traction if linear ad revenue keeps sliding double digits and leverage refuses to come down.
Extending our model with current growth trajectories:
These projections assume WBD executes its streaming margin ramp and either closes the Paramount deal or continues on the standalone split path. Meaningful upside or downside hinges on the merger outcome, NBA-related ad comparisons rolling off, and the 2027 film slate delivering.
Contact [email protected] for any questions or corrections.