Wells Fargo analyst Steven Cahall lowered the firm’s price target on Paramount Skydance (PSKY) to $8 from $10 and keeps an Underweight rating on the shares. The firm says that high pro forma leverage equals risk for Paramount, and the NFL has increased the pressure. Paramount will need to get into post-deal execution to assuage fears, Wells argues.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PSKY:
- Bull vs. Bear Case for Paramount Skydance (PSKY) Stock: Top Analyst Weighs In
- Paramount Skydance Stock (NASDAQ:PSKY) Gains With New SVP
- ‘Project Hail Mary’ Becomes Amazon MGM’s Top Performing Movie to Date
- Is Netflix’s Price Hike after Warner Bros. Blow a Boon for NFLX Stock? Analysts Weigh In
- Now Streaming: Netflix raises prices in U.S.