Warner Bros. Discovery stock stays near its 52-week high

Published on 09/28/2026 at 11:19 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Warner Bros. Discovery stock drew a USD 31.00 Morgan Stanley target on September 22, 2026, up from USD 29.00. Q2 revenue fell 11.2 percent to USD 8.72 billion.

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Warner Bros. Discovery (ISIN US9344231041) stock closed at USD 30.86 on Nasdaq on September 25, 2026, just 0.19 percent below its 52-week high of USD 30.92. As MarketBeat reported on September 22, 2026, a settlement involving California and 11 other states removed a major obstacle to Paramount Skydance's proposed acquisition of Warner Bros. Discovery.

Analyst target reaches USD 31.00

Investor attention has shifted toward the transaction's closing path, but the analyst view remains restrained. MarketBeat reported on September 28, 2026, that Morgan Stanley raised its target from USD 29.00 to USD 31.00 on September 22 while maintaining an Equal Weight rating.

The same September 28 report put the average rating at Hold across 23 firms and the average 12-month target at USD 28.34. That consensus target sits USD 2.52 below the September 25 closing price, showing that the deal-driven move has outrun the broader valuation view.

Q2 revenue declines 11.2 percent

Warner Bros. Discovery's operating figures present a tougher counterweight. In the second quarter of 2026, the company reported USD 8.72 billion in revenue, down 11.2 percent from the prior-year quarter, according to MarketBeat.

Quarterly EPS was USD 0.06, compared with a consensus estimate of a USD 0.14 loss and USD 0.63 in the prior-year quarter. The combination of an earnings beat and lower revenue leaves the merger outcome as the dominant near-term variable for the stock.

Deal steps remain central

Warner Bros. Discovery also announced on September 25, 2026, that it intends to delist two Euro notes from Nasdaq Global in connection with the pending acquisition. The announcement said the company expected to file Form 25 on or around October 6, 2026, subject to customary closing conditions, as reported by Finanznachrichten.

For investors, the central tension is clear: transaction progress supports the share price, while the latest revenue comparison highlights the standalone execution challenge.

Stock stays near its yearly peak

Warner Bros. Discovery stock closed at USD 30.86 on Nasdaq on September 25, 2026, with volume of 23,737,557 shares and market capitalization of USD 77.5 billion. The 52-week range was USD 17.08 to USD 30.92.