Paramount: stock rises after broker upgrade
(CercleFinance.com) - Paramount's shares closed up 3% on Tuesday in New York, supported BofA comments, which upgraded its rating on the stock to "buy" (from "neutral").
Bank of America announced a target price of $32 for the stock, highlighting an attractive and unique portfolio of assets for a potential sale of the media group, that could generate significant interest from potential buyers if the company were to be put up for sale, it said.
Analysts believe that the sale of Paramount's assets could generate far more value than the market currently assigns to the company.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Bank of America announced a target price of $32 for the stock, highlighting an attractive and unique portfolio of assets for a potential sale of the media group, that could generate significant interest from potential buyers if the company were to be put up for sale, it said.
Analysts believe that the sale of Paramount's assets could generate far more value than the market currently assigns to the company.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.