Netflix (NFLX) shares are declining after the company announced a deal to acquire Warner Bros. Discovery (WBD) assets for $83 billion. This move is expected to solidify Netflix’s position in Hollywood, valuing WBD’s assets at $27.75 per share. The stock is currently down about 25% from its year-to-date high. The drop in NFLX shares is attributed to concerns about the cost of the transaction and potential regulatory hurdles due to decreased competition in the streaming market. Despite this, analysts like Evercore ISI recommend buying the dip, with a price target suggesting 37% upside potential. Wall Street consensus rating is “Strong Buy” with price targets indicating a more than 55% rally in the coming year.

Read more at Barchart: Netflix Is Buying Warner Bros. Discovery. Should You Buy NFLX Stock?