|Analyst / Firm||Company||Price||Rating||Price Target||Upside/Downside||Date|
a day ago
#483 out of 4345 analysts
53%26 out of 49
Risk vs Reward
Guggenheim's Michael Morris lowered their price target on Paramount Global (NASDAQ: PARA) by 9.5% from $21 to $19 on 2023/10/02. The analyst maintained their Strong Buy rating on the stock.
Guggenheim revised its Paramount Global estimates "to more accurately reflect its view of current advertising trends, the company's updated cost forecast, and recent theatrical film underperformance," Morris told investors.
The firm did not change its $613M OIBDA (Operating Income Before Depreciation and Amortization) estimate for Q3 2023, the analyst detailed, but its FY 2023 OIBDA outlook is now down from $2.4B to $2.3B.
On a positive note, Guggenheim's analysis of third-party Paramount+ app download data indicates a return to positive momentum in average daily downloads exiting Q3, Morris added.
a day ago