Paramount's stock nabs an upgrade as company could depart from 'money-losing strategies'

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Wolfe Research analyst Peter Supino ended his bearish call on Paramount's stock.

Wolfe Research analyst Peter Supino ended his bearish call on Paramount Global Inc. recently following the announcement that majority shareholder National Amusements obtained a $125 million preferred equity investment.

“The... Wolfe Research analyst Peter Supino ended his bearish call on Paramount Global Inc. recently following the announcement that majority shareholder National Amusements obtained a $125 million preferred equity investment. “The collateral for the loan amounts to a significant minority of [National Amusements’] 9.7% Paramount equity stake,” Supino wrote. “Given the Redstones’ financial situation appears even more pressing, we highly doubt that [National Amusements Chief Executive] Shari Redstone’s commitment to Paramount’s current money-losing strategies would be so great as to lead her towards surrendering those shares.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines