JPMorgan Reiterates Underweight Rating on Paramount Global (PARA)

JPMorgan analyst Philip Cusick reiterated an Underweight rating and $11.00 price target on Paramount Global (NASDAQ: PARA).

The analyst comments "We update Paramount estimates ahead of earnings to reflect recent trends. Overall, we maintain 3Q24 OIBDA at $655m as a reduction at TV Media on licensing timing is offset by lower DTC drag. FCF for the quarter remains $82m. Our 3Q Paramount+ net adds are now +2.5m, which reflects the return of NFL and college football and an intra-quarter partnership expansion with Canal+. For the year, our OIBDA moves to $3.009b (from $2.940b) on better DTC in 2H."

For an analyst ratings summary and ratings history on Paramount Global click here. For more ratings news on Paramount Global click here.

Shares of Paramount Global closed at $10.60 yesterday.

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