PARA Price Prediction Next Week
Prediction and Recommendation for PARA Stock
Based on the analysis of news sentiment and technical indicators, here is the prediction and recommendation for Paramount Global (PARA) stock for the next trading week:
News Sentiment Analysis:
- Cost-Cutting Measures: Paramount is relocating CBS Mornings from Times Square, which has displeased investors and affected stock performance.
- FCC Probe Resistance: Conservative groups are opposing the FCC's investigation into Paramount, which could impact regulatory risks.
- FCC's Stance on DEI Policies: The FCC's decision to block mergers with companies with DEI policies could delay Paramount's merger with Skydance Media.
Technical Indicators:
- Current Price: $11.83
- RSI (14): 60.17 (Neutral)
- MACD: 0.19 (Bullish Signal)
- Fibonacci Levels:
- Resistance: $12.13
- Support: $11.37
Price Prediction:
Based on the analysis, the stock is expected to trade sideways with a slight bearish bias due to the headwinds from the FCC probe and cost-cutting measures. The predicted price range for the next trading week is $11.60 to $12.00.
Recommendation:
Sell or avoid buying PARA stock next week as the stock is likely to face downward pressure due to the negative news sentiment and technical resistance levels.
PARA Similar Chart Price Prediction
The price of PARA is predicted to go up 6.41%, based on the high correlation periods with ASTL. The similarity of these two price pattern on the periods is 95.96%.
PARA
ASTL
Up: 6.41%Similarity: 95.96%
PARA Revenue Forecast
PARA EPS Forecast
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PARA VS S&P500
CBS is overlooked. NFL rights, television franchises, and continual leadership in prime-time broadcast television will bring value even if pay-TV subscribership continues declining.
With a historically weaker streaming platform, Paramount has the right strategy to consolidate entertainment and linear content onto Paramount+ and partner with other subscription services to bring more eyeballs to its content.
Paramount's studios remain top-tier for content creation and ownership. Licensing opportunities will be robust if the Paramount+ streaming service fails.
PARA Analyst's Forecast
Michael Morris
Guggenheim
Strong Buy
2024-09-25
Price Target
$19 → $14
Upside
+32.7%
Guggenheim analyst Michael Morris lowered the firm's price target on Paramount to $14 from $19 and keeps a Buy rating on the shares after having updated the firm's Paramount model for recent trends, with its Q3 and full-year profit outlook largely unchanged. The firm notes that the $500M in synergies that management previously identified is captured in its model from a top-down basis for 2025, though it would expect more color on impact by segment over the coming quarters.
