12:30 PM EDT, 08/08/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Ahead of a planned corporate restructuring into two companies in 2026, we think management is moving in the right direction to try to deliver shareholder value. For WBD, we are lowering our target by $1 to $14 using a forward TEV/EBITDA of 7.3x, which is near direct peers that are legacy linear network companies. There have been wide swings in reported EPS or net loss per share (LPS), and we revise our 2025 estimate to EPS of $0.35 from a LPS of -$0.35, and 2026's to EPS of $0.10 EPS from a LPS of -$0.10. Our revenue projections are $37.6B in 2025 and $38.5B in 2026. In Q2 2025, there was a one-time gain for debt retirement of $3.0B that contributed to positive net income and GAAP reported EPS of $0.63 per share, or $0.31 normalized EPS. Adjusted EBITDA was $2.0B (up 9% Y/Y) and cash provided by operating activities was down 20% Y/Y to $983M. We think the planned restructuring will be the key driver to benefit WBD shares.