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Paramount price target raised to $30 from $28 at Benchmark

Benchmark analyst Daniel Kurnos raised the firm’s price target on Paramount to $30 from $28 and keeps a Buy rating on the shares following the company’s Q2 revenue and adjusted OIBDA beat. While noting that critics will “no doubt point to the upside coming from licensing lumpiness and non-P+ ARPU,” management’s outlook “came across as incrementally more positive,” the analyst tells investors.

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