Raymond James Downgrades WBD (Warner Bros. Discovery Inc.) to Underperform Feb 2026

Raymond James downgraded WBD from Outperform to Underperform on Feb 27, 2026. The move is the main shift in the latest coverage and comes amid deal uncertainty. The WBD analyst rating change signals growing concern about transaction dynamics and near-term earnings pressure. Investors should note this is one firm’s view and a data point in a wider analyst mix.