Loop Capital analyst Alan Gould downgraded Paramount to Sell from Hold with a price target of $14, down from $30. The analyst cites the company’s exposure to the "rapidly declining" traditional linear TV business while noting that its path to profitability in Streaming is "unclear". Although Paramount’s content cycle is "strong", the company’s earnings and cash flow are declining, its leverage is growing, and its dividend exceeds free cash flows, the analyst tells investors in a research note.
Published first on TheFly
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