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Investing.com - CFRA has upgraded Paramount Global (NASDAQ:PARA) from Hold to Buy and raised its price target to $19.00 from $13.00, citing the company’s change in control as a landmark event. The stock has shown strong momentum, with a YTD return of ~13% and current trading at $0.97. According to InvestingPro data, the company maintains a healthy gross profit margin of nearly 69%.
The research firm maintained its earnings per share estimates at $1.35 for 2025 and $1.55 for 2026, with projected revenue of $29.0 billion and $30.6 billion, respectively.
CFRA analyst Kenneth Leon highlighted the Skydance Media acquisition of a 77% controlling interest in the new PSKY shares from the Redstone family as the key factor behind the upgrade.
The firm expressed confidence that the new management team, led by David Ellison as Chairman and CEO and Jeff Shell as President, will drive innovative thinking and modernize the company.
CFRA also noted Paramount’s recent $7.7 billion deal for exclusive U.S. rights to UFC events from 2026 to 2032, with the company expecting to generate positive free cash flow in 2025. The company’s next earnings report is scheduled for August 11, 2025, which will provide more clarity on its financial trajectory.
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