Macquarie reduced the firm’s FY24 estimates further for Paramount after the company reported a slight miss on its revenue and earnings lines with its Q4 report. With Q4, the company provided important commentary around its direct-to-consumer streaming business, which remains key to the company’s success, but “near-term hurdles remain,” including linear TV advertising and cord-cutting, says the firm, which reiterates an Underperform rating and $10 price target on Paramount shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on PARA:
- WBD: Can Dune 2 Spice Up the Fortunes of Warner Bros. Stock?
- Paramount price target lowered to $15 from $17 at Seaport Research
- Paramount (NASDAQ:PARA) Plans Response to Declining Earnings
- Paramount price target lowered to $9 from $12 at Rosenblatt
- PARA Earnings: Paramount+ Streaming Success Propels PARA Stock Higher