Paramount shares are trading lower after Redburn Atlantic downgraded the stock from Neutral to Sell and announced an $11 price target.
Portfolio Pulse from Benzinga Newsdesk
Paramount shares have declined following a downgrade by Redburn Atlantic from Neutral to Sell, with a new price target set at $11.
January 11, 2024 | 5:23 pm
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NEGATIVE IMPACT
Paramount's stock price is expected to face downward pressure in the short term due to the downgrade by Redburn Atlantic and a lower price target of $11.
Analyst downgrades typically lead to a negative perception among investors, potentially causing a sell-off. The new price target of $11 suggests a bearish outlook on the stock's value, which may influence investors to adjust their positions accordingly.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100