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Barrington Reiterates a Buy Rating on Paramount Global Class B (PARA)

In a report released today, James Goss from Barrington reiterated a Buy rating on Paramount Global Class B (PARAResearch Report), with a price target of $34.00. The company’s shares closed last Thursday at $29.77.

According to TipRanks.com, Goss is a 1-star analyst with an average return of -1.9% and a 41.3% success rate. Goss covers the Services sector, focusing on stocks such as Lions Gate Entertainment Class A, Clear Channel Outdoor, and Sirius XM Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Paramount Global Class B with a $39.31 average price target, representing a 33.2% upside. In a report released yesterday, Goldman Sachs also maintained a Buy rating on the stock with a $54.00 price target.

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Based on Paramount Global Class B’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $6.61 billion and net profit of $538 million. In comparison, last year the company earned revenue of $5.84 billion and had a net profit of $615 million.

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ViacomCBS Inc. is a diversified multinational mass media conglomerate. The company owns and operates broadcast television stations, and provides cable network services including subscription and a free streaming TV platform. It also engages in developing, producing, financing, acquiring, and distributing films, television programming, and other entertainment content. In addition, the company publishes and distributes adult and children’s consumer books in digital, audio and printed formats.

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