Loop Capital Downgrades Paramount Global to Sell, Announces $12 Price Target
Portfolio Pulse from Benzinga Newsdesk
Loop Capital analyst Alan Gould has downgraded Paramount Global (NASDAQ:PARA) from Hold to Sell and set a new price target of $12.
December 11, 2023 | 2:19 pm
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Paramount Global was downgraded by Loop Capital from Hold to Sell with a new price target of $12, indicating a bearish outlook.
Downgrades by analysts can lead to a negative perception among investors and potentially drive the stock price down in the short term. The new price target of $12 suggests that Loop Capital believes the stock is overvalued at its current price, which could influence investors to sell.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100