JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Paramount Skydance (NASDAQ:PSKY) Stock

Paramount Skydance (NASDAQ:PSKY) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $10.00 to $14.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 9.09% from the stock’s current price.

A number of other research firms also recently weighed in on PSKY. Wells Fargo & Company lifted their price target on shares of Paramount Skydance from $10.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Paramount Skydance in a research note on Wednesday, October 8th. UBS Group lifted their price target on shares of Paramount Skydance from $10.00 to $12.00 and gave the stock a “sell” rating in a research note on Wednesday, October 8th. Bank of America began coverage on shares of Paramount Skydance in a research note on Friday, September 5th. They set an “underperform” rating and a $11.00 price target on the stock. Finally, Guggenheim reissued a “neutral” rating and issued a $13.00 target price on shares of Paramount Skydance in a report on Friday, August 22nd. Four equities research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and an average price target of $12.63.

Paramount Skydance Trading Down 0.1%

NASDAQ PSKY traded down $0.02 on Tuesday, reaching $15.40. The stock had a trading volume of 755,685 shares, compared to its average volume of 10,713,211. The firm has a 50 day simple moving average of $17.03. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.39 and a quick ratio of 1.21. Paramount Skydance has a 1 year low of $9.95 and a 1 year high of $20.86. The company has a market capitalization of $10.38 billion, a P/E ratio of -513.16, a price-to-earnings-growth ratio of 4.24 and a beta of 1.26.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PSKY. Cullen Investment Group LTD. bought a new position in Paramount Skydance in the 3rd quarter valued at $462,000. Czech National Bank bought a new position in shares of Paramount Skydance in the 3rd quarter worth $1,484,000. Wedmont Private Capital bought a new position in shares of Paramount Skydance in the 3rd quarter worth $261,000. Hedges Asset Management LLC bought a new position in shares of Paramount Skydance in the 3rd quarter worth $248,000. Finally, Contravisory Investment Management Inc. bought a new position in shares of Paramount Skydance in the 3rd quarter worth $751,000. 73.00% of the stock is currently owned by institutional investors.

About Paramount Skydance

Paramount Global is a media and entertainment company which creates premium content and experiences for audiences. The company’s portfolio of consumer brands includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount , Pluto TV and Simon & Schuster, among others.