Paramount price target raised to $22 from $20 at Guggenheim

Guggenheim analyst Michael Morris raised the firm’s price target on Paramount (PARA) to $22 from $20 and keeps a Buy rating on the shares after updating his model to reflect a more modest Q4 DTC loss than previously modeled driven by a full quarter of the Walmart+ (WMT) partnership, recent international market launches and content strength. His unchanged Q4 streaming subscriber outlook of 75.0M, including 54.0M for Paramount+, remains ahead of consensus at 73.3M, Morris noted.