Paramount price target lowered to $14 from $19 at Guggenheim

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.