Bank maintains Discovery ‘Buy’ advice
April 9, 2021
Discovery’s share price has risen and fallen dramatically over the past few months. As recently as mid-March its share price was an impressive $77, and an all-time high. But within 10 days of that date the value had slumped to $41.
April 7th saw a very slight recovery to $43.39 and prompted a report from Deutsche Bank who reminded investors that at the beginning of this year Discovery’s share price was just $30.63, and attempted to put the year’s performance into perspective.
In essence, the bank is expecting an improved revenue growth outlook potentially deriving from the recently launched Discovery+ streaming service.
Moreover, Deutsche Bank has maintained its ‘Buy’ advice and has even issued a much enhanced price target of $60 per share (up from the previous $35) and indicating a 38 per cent potential uposide.
One obvious highlight is Discovery’s ‘ownership’ of some valuable Olympic Games coverage rights. However, there’s a growing opinion that the US – and some Western nations – are looking to boycott the upcoming 2022 Winter Games to be held in Beijing and host city Zhangijakou in February 2022.
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