Despite a report that Netflix (NFLX) may have been interested in Paramount’s (PARA) studios, Wells Fargo remains Underweight on the latter and skeptical of value creation. A Business Insider story noted that Netflix may have looked at buying Paramount’s studio assets at some point, perhaps to gain access to its significant library, lot in LA and in-production TV series and films. While Wells always viewed Paramount Studios as a rare gem that that if put up for sale could garner significant M&A interest from streamers, it is not convinced Paramount would break-up and sell. The firm has a price target of $11 on Paramount’s shares.
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Published first on TheFly
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