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There’s a good chance Warner Bros. Discovery and Paramount Skydance will be able to strike a merger agreement, according to TD Cowen analyst Doug Creutz. But whether you should buy Warner’s stock in hopes of that outcome is another story.
Creutz cut his rating on Warner’s stock WBD to hold from buy late on Monday, citing a big recent rally in the shares on deal speculation. After the Wall Street Journal reported that Paramount PSKY was working on a bid, Warner shares soared around 50% over a matter of days to close in on a $20 price.
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