Analyst Jessica Reif Ehrlich upgraded the stock to buy from neutral Tuesday.
She also hiked her price target on Paramount to $32 per share from $24 per share, implying upside of 54.1%. Ehrlich noted the company's list of strong assets that could aid the business if it ever puts itself up for sale. "It is our view that PARA has a unique collection of assets that would generate significant buyer interest if ever put up for sale—either in pieces or whole," Ehrlich said.
mountain Bank of America sees Paramount as a buy thanks to the company's strong assets in the event of a sale of the business. Even though concerns remain over Paramount's ability to successfully transition toward streaming without neglecting the legacy media operation, Ehrlich said that even the downside risk could still turn positive.
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