CFRA Upgrades Paramount Global (PARA) to Buy

CFRA analyst Kenneth Leon upgraded Paramount Global (NASDAQ: PARA) from Hold to Buy with a price target of $19.00 (from $13.00).

The analyst commented: "We raise our target by $6 to $19 using a forward TEV/EBITDA of 7.2x our 2026 EBITDA estimate at $3.4B vs. the 8.7x five-year average and 7.5x average in 2024. We keep our EPS estimates at $1.35 in 2025 and $1.55 in 2026 on projected revenue of $29.0B and $30.6B, respectively. The landmark event behind our revisions is the change in company control, with Skydance Media acquiring a 77% controlling interest in the new PSKY shares from the Redstone family. We believe the new management team, with David Ellison as Chairman and CEO and Jeff Shell as President, will drive innovative thinking and best practices to modernize the company. PSKY has started efforts to streamline its technology platform for entertainment content production and distribution. On August 11, the company made the bold move to expand sports rights to stream and broadcast UFC events from 2026 to 2032. This is a $7.7B deal (total), with $1.1B paid annually for exclusive U.S. rights. PSKY expects to generate positive free cash flow in 2025."

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 $11.08 yesterday.

You May Also Be Interested In

• Barclays Upgrades Castellum AB (CAST:SS) (CWQXF) to Equalweight
• Jefferies Upgrades Yihai International Holding Ltd. (1579:HK) (YNNHF) to Buy
• RBC Capital Starts Greenfire Resources (GFR:CN) at Sector Perform