Key Takeaways:
- Paramount Global (PARA, Financial) is undergoing a strategic shift with a 3.5% workforce reduction.
- Analysts maintain a "Hold" recommendation with an average target price of $11.56.
- GuruFocus estimates a slight upside potential with a GF Value of $12.50.
Paramount Global (PARA) has announced a strategic workforce reduction of 3.5% to navigate economic challenges and the declining traditional TV viewership in the U.S. This recent downsizing plan, affecting approximately 600 employees, complements a prior 15% job cut aimed at saving $500 million. Paramount's decision underscores its increased focus on enhancing its streaming services to adapt to the evolving media landscape.
Wall Street Analysts Forecast
Wall Street's outlook on Paramount Global (PARA, Financial) reflects cautious optimism. According to a survey of 19 analysts, the stock has an average target price of $11.56, with estimates ranging from a high of $16.00 to a low of $8.50. At the current share price of $12.00, this suggests a potential downside of 3.68%. Investors can access more detailed forecast data on the Paramount Global (PARA) Forecast page.
Furthermore, consensus from 26 brokerage firms rates Paramount Global as a "Hold," with an average recommendation score of 3.4 on a scale where 1 is Strong Buy and 5 is Sell. This reflects a measured stance on the part of analysts concerning Paramount's future trajectory amidst industry shifts.
According to GuruFocus insights, the estimated GF Value for Paramount Global (PARA, Financial) in the coming year is projected at $12.50. This aligns with a modest upside potential of 4.17% from the current valuation of $12. The GF Value is a proprietary metric that assesses a stock's fair trading value based on historical multiples, past business growth, and anticipated future performance dynamics. For a comprehensive overview, visit the Paramount Global (PARA) Summary page.
