Wells Fargo Raises Paramount Skydance Price Target Ahead of Q3 Earnings
Wells Fargo analyst Steven Cahall increased his price target on Paramount Skydance (PSKY) from $10 to $16 ahead of its third-quarter earnings report, maintaining a 'Hold' rating. The adjustment reflects cautious Optimism about the newly merged entity's strategic direction, despite acknowledging near-term execution risks.
Analysts project PSKY will report adjusted earnings of $0.43 per share on $6.84 billion in revenue—a 14.3% annual earnings decline but modest sales growth. Citi's Jason Bazinet also raised his target to a street-high $20, suggesting 19.6% upside potential.
Cahall, ranked among TipRanks' top 12% of analysts, carries a 56% success rate with 7.3% average returns per rating. The earnings release on October 30 is anticipated as a litmus test for the merger's early-stage performance.
