Paramount price target lowered to $16 from $19 at Benchmark

Benchmark lowered the firm’s price target on Paramount (PARA) to $16 from $19 and keeps a Buy rating on the shares. The firm is reducing its forecasts “pretty significantly,” reflecting a combination of weaker advertising, slower Paramount+ sub growth, and additional challenges in affiliate and licensing revenue, but adds that it “cannot seem to bring our estimates to be in line or below the street in 2025.”