Analyst Calls New WBD Shares ‘Undervalued’ As Trading Starts

Before the start of the first day of trading for Warner Bros. Discovery, analyst Vijay Jayant of Evercore ISI is calling the stock “undervalued” and labelling the company as “the first direct-to-consumer free cash flow machine.” WBD, the company’s stock ticker symbol, was created after Discovery’s acquisition of WarnerMedia closed Friday.

Sinclair Stock Down On Evercore Cut

Sinclair Broadcast Group is off 7.2% following a cut to In-Line at Evercore ISI, from Outperform. That follows news that the regional sports networks Disney acquired from Fox (and which are headed to Sinclair in a $9.6 billion deal) went dark on Dish Network and Sling TV.