** Shares of Warner Bros Discovery WBD.O up 3.4% at $21.02 in early trading
** Brokerage firm Benchmark raises target price to $25 from $18
** Brokerage increases PT after WBD board initiated a strategic review
** WBD board rejected a nearly $60 bln offer from Paramount Skydance PSKY.O on Tuesday - Reuters report, citing source
** 12 of 27 brokerages covering the stock recommend a rating of "buy" or higher, while others recommend "hold"; stock has a median PT of $20 - LSEG
** Up to its last close, the stock has nearly doubled YTD
(Reporting by Arnav Mishra in Bengaluru)
((Arnav.Mishra@thomsonreuters.com;))
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