Paramount Global (PARA) PT Lowered to $19 at Rosenblatt

Rosenblatt analyst Barton Crockett lowered the price target on Paramount Global (NASDAQ: PARA) to $19.00 (from $25.00) while maintaining a Sell rating.

The analyst commented, "We adjust Paramount Global estimates for the off-setting factors of a "choppy" ad market and an out-performing movie -- Top Gun: Maverick. Higher inflation, and rising ad risks around recession potential prompt a lower long-term multiple assumption, reducing our price target by $6 to $19. We retain a Sell rating."

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