Guggenheim Begins Coverage on Paramount Global (NASDAQ:PSKY)

Key Points

• Guggenheim has initiated coverage on Paramount Global (NASDAQ:PSKY) with a "buy" rating and a price target of $13.00, indicating a potential upside of 15.97%.
• Other analysts have mixed views, with Seaport Res Ptn upgrading its rating to "hold" while Barclays downgraded its price target significantly from $12.00 to $8.00.
• Paramount Global's shares opened at $11.21, with a market cap of $7.56 billion, and it has experienced a 12-month low of $9.95 and a high of $13.59.

Stock analysts at Guggenheim began coverage on shares of Paramount Global (NASDAQ:PSKY - Get Free Report) in a note issued to investors on Wednesday,Benzinga reports. The brokerage set a "buy" rating and a $13.00 price target on the stock. Guggenheim's price objective would suggest a potential upside of 15.97% from the company's current price.

A number of other analysts have also weighed in on the stock. Seaport Res Ptn raised shares of Paramount Global from a "strong sell" rating to a "hold" rating in a research note on Friday, August 8th. Barclays lowered their price objective on shares of Paramount Global from $12.00 to $8.00 and set an "underweight" rating for the company in a research note on Friday, August 8th.

Paramount Global Price Performance

Shares of PSKY opened at $11.21 on Wednesday. The firm has a market cap of $7.56 billion, a PE ratio of -373.54, a P/E/G ratio of 2.79 and a beta of 1.17. Paramount Global has a 12-month low of $9.95 and a 12-month high of $13.59. The company has a quick ratio of 1.21, a current ratio of 1.39 and a debt-to-equity ratio of 0.83.

About Paramount Global

Paramount Global is a media and entertainment company which creates premium content and experiences for audiences. The company's portfolio of consumer brands includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount , Pluto TV and Simon & Schuster, among others.

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