What's Going On With Paramount Global Stock?
Portfolio Pulse from Henry Khederian
Paramount Global's stock (NASDAQ:PARA) is trading slightly higher after a sharp fall due to a downgrade from B of A Securities analyst Jessica Reif Ehrlich. Despite exceeding expectations in their recent financial report and experiencing substantial growth in their streaming services, the stock was downgraded from Buy to Underperform with a $9 price target.
November 07, 2023 | 4:06 pm
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NEGATIVE IMPACT
Paramount Global's stock fell sharply after a downgrade from B of A Securities, despite exceeding Q3 expectations and substantial growth in streaming services.
The downgrade from B of A Securities has a direct negative impact on Paramount Global's stock. Despite strong Q3 results and growth in streaming services, the downgrade outweighs the positive news, leading to a fall in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100