By Marc Guberti

Copyright benzinga

Analysts are saying that Warner Bros. Discovery could hit $7 by 2030. Bullish on WBD? Invest in Warner Bros. Discovery on SoFi with no commissions. If it’s your first time signing up for SoFi, you’ll receive up to $1,000 in stock when you first fund your account. Plus, get a 1% bonus if you transfer your investments and keep them there until December 31, 2025.

Warner Bros. Discovery Inc. (WBD) is in the spotlight over reports that Paramount Skydance and Netflix are mulling bids for the entertainment conglomerate. That may be the main reason WBD has beaten the stock market this year, but HBO Max subscriber growth and a reduced debt load are helping as well. That debt is still substantial, however, and revenue growth has been pressured due to cord-cutting, which has offset streaming gains.

In this article, we’ll look at WBD’s latest share price, Wall Street sentiment, multiyear price forecasts, and the key factors that are playing a critical role in the company’s path going forward.

Current Stock Overview

Market Cap: $49 billion

Trailing P/E Ratio: 63.26

Forward P/E Ratio: N/A

1-Year Return: 140%

2025 YTD: 85%

Warner Bros. Discovery shares are trading around $19. The stock had risen moderately since the beginning of the year until acquisition rumors started earlier in September, resulting in an 85% gain year to date.

Whether Paramount Skydance, Netflix or some other potential suitor decides to pick up Warner Bros. Discovery, there are big issues for a buyer to consider. The company is sitting on $35.6 billion in gross debt. That’s an improvement from $38 billion in Q1, but the current load is equal to 73% of WBD’s $49 billion market cap. High interest payments are making it harder to pay debt down, which is limiting the company’s ability to make new investments and borrow additional capital.

HBO Max subscriber growth is positive, but digging deeper reveals concerns. The streaming segment had 3.4 million new subscribers in Q2, but that’s largely because HBO Max just launched in Australia at the end of Q1. More than 3.2 million of the new subscribers were international, as domestic growth rates slowed.

Further HBO Max launches are due in Germany, Italy, the United Kingdom, and Ireland in 2026, so there’s growth in international markets, but once the easy year-over-year comparisons wear off, future growth could be more difficult, just as we’re seeing domestically.

Revenue growth from HBO Max has also been mostly wiped away by declines in domestic linear pay-TV subscribers. Q2 ad revenue dipped by 10% year-over-year as domestic linear audience declines offset ad-light streaming subscriber growth. Ultimately, sales only increased by 1% year-over-year as the streaming segment showed promise while the legacy business continues to dwindle.

WBD has a consensus Hold rating from 26 analysts, according to Benzinga. The average price target is $13.08 per share, which suggests a meaningful downside from current levels. The highest price target is $18, and the lowest is $8. The three most recent ratings suggest a near-term average target of $14.67, suggesting a 24.48% downside.

Quick Snapshot Table of Predictions

The forecast range in this table is based on algorithmic projections provided by CoinCodex. These models use historical price trends, volatility patterns and moving averages to estimate future stock prices over multiple time horizons.

Bull & Bear Case

Warner Bros. Discovery has a declining legacy business and a big pile of debt. However, it’s making good progress in paying off debt and is growing the streaming segment.

Warner Bros. Discovery continues to trim its debt, which will free capital in the futureThe company’s streaming service should experience strong international growth as it debuts in several European countriesAcquisition rumors, or a bidding war, could lead to a higher stock price

$35 billion in debt limits the company’s ability to invest in new opportunities Domestic HBO Max subscriber growth rates are lowThe legacy business’ declines continue to offset HBO Max’s progress

Stock Price Prediction for 2025

Forecast Range: $19.13 – $20.29

CoinCodex forecasts Warner Bros. Discovery reaching an average estimated value of $19.60 per share this year, implying a flat stock price. Acquisition rumors may be enough to keep the stock at its current level for the rest of the year.

Stock Price Prediction for 2026

Forecast Range: $9.04 – $10.43

CoinCodex sees Warner Bros. Discovery reaching an average estimated value of $9.85 per share in 2026, suggesting the stock will lose more than 50% in a year. These forecasts suggest that an acquisition doesn’t happen, domestic linear pay TV subscribers continue to leave, and HBO Max growth rates slow down after expanding into more European countries.

Stock Price Prediction for 2030

Forecast Range: $6.64 – $7.62

CoinCodex projects an average price target of $7.20 per share, which suggests a significant downside. It comes to a -18.12% CAGR over five years. This forecast assumes HBO Max subscribers decline, domestic linear pay TV subscribers plunge, and the company doesn’t make as much progress with paying off debt. If HBO Max subscriber growth rates accelerate, the 2030 price per share could look different.

Investment Considerations

Warner Bros. Discovery faces massive debt and a declining linear pay TV subscriber base. HBO Max hasn’t been enough to cancel all of the losses, and that segment isn’t growing at a fast rate in domestic markets. HBO Max should see a boost in subscribers as it ventures into European countries, but after this 2026 boost, year-over-year comps will be more difficult.

The entertainment conglomerate is making progress with paying off debt, but revenue remains flat year over year. However, someone could acquire Warner Bros. Discovery, which could result in short-term upside for investors.

Key risks: Debt becomes difficult to pay off, HBO Max subscriber growth slows down, the legacy business continues to decline, and an acquisition doesn’t happen

Warner Bros. Discovery may be a worthy candidate for speculative investors who are betting on acquisition news.

Frequently Asked Questions