Barclays analyst Kannan Venkateshwar raised the firm’s price target on Paramount to $12 from $11 and keeps an Underweight rating on the shares. The company’s free cash flow and OIBIDA beat were positive surprises but were helped by unique factors, the analyst tells investors in a research note. The firm says Paramount’s direct-to-consumer losses could improve faster next year but the impact on cash flow will be limited.
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