Paramount Skydance price target raised to $12 from $11 at Bernstein

Bernstein raised the firm’s price target on Paramount Skydance (PSKY) to $12 from $11 and keeps an Underperform rating on the shares. Paramount Skydance is arguably the most interesting company in Media today, the firm says, adding that it is more than a flavor-of-the-month narrative. On an as-is basis, Bernstein believes the stock remains overvalued, but that’s also what many thought of Netflix (NFLX) a decade ago. The company has shown it’s here to play the long game, laying the groundwork for recovery and sustained growth, the firm adds.