Paramount Analyst Downgrades Stock, Citing Lack of Breakup, Skydance’s “Lofty” Cost-Cutting Target ...Middle East

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“Maybe We Have Different Dreams.” That was the headline of Wolfe Research analyst Peter Supino’s Tuesday report, in which he downgraded his stock rating on Paramount Global from “peer perform” to “underperform” following news of its deal to be acquired by David Ellison’s Skydance Media. He has a $10 price target on the stock. “With a breakup of the company off the table, the investment debate simplifies: can Paramount invest profitably in direct-to-consumer (DTC)? Are forecasts low enough?” he wrote. “Respectively, we are cautious and negative.” Supino explained that with the deal agreed, “we revert to the ever-pressured fundamentals.” That was particularly a reference to Paramount’s

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Paramount Analyst Downgrades Stock, Citing Lack of Breakup, Skydance’s “Lofty” Cost-Cutting Target ...Middle East

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