Extremely important positive changes in investment behavior have recently occurred for Paramount Global (NASDAQ: PARA): its shorter term price trend turned up, and the stock’s recent price rise disrupted its longer term downtrend.
Paramount Global (NASDAQ: PARA). Important positive changes in fundamentals have recently occurred: significant quarterly earnings acceleration occurred, and the consensus estimate for December, 2024 increased significantly.
In light of these very positive signals we are reviewing our current Overall Rating of B. We would continue to view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, PARA is expected to continue to be a modest Value Builder.
Paramount Global has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Paramount Global has a very high Appreciation Score of 96 but a slightly negative Power Rating of 36, leading to the Positive Value Trend Rating.
Recent Price Action
On 5/6/24, Paramount Global (NASDAQ: PARA) stock enjoyed a large increase of 3.1%, closing at $13.29. NORMAL trading volume accompanied the advance. Relative to the market the stock has been weak over the last nine months but has risen 11.6% during the last week.
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