Paramount Skydance price target raised to $13 from $11 at BofA

BofA raised the firm’s price target on Paramount Skydance (PSKY) to $13 from $11 and keeps an Underperform rating on the shares. In their first earnings as a new public company, results were “largely mixed” on a consolidated basis, although streaming profitability was ahead of the firm’s forecast, the analyst tells investors. The company’s 2026 outlook calls for revenue of $30B and adjusted OIBDA of $3.5B that was above the firm’s $3.1B forecast, driven in large part by the increase in run-rate synergies, the analyst noted. While adding that it is clear Paramount Skydance has “a very strong management team” and there will be upward estimate revisions post results, the firm says there are still many unknowns on the company’s strategic initiatives and that restructurings often take years to implement.