Paramount Plus Streaming Plan Bows to Mixed Reviews From Wall Street
Cynthia Littleton, provided by
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Wall Street analyst Laura Martin of Needham Co. went so far as to say “Sell Netflix to buy ViacomCBS” after Wednesday’s marathon presentation of ViacomCBS’ plan for growth in the streaming arena with the March 4 launch of Paramount Plus.
But Todd Juenger of Sanford Bernstein Co. is having none of it, setting his target price on ViacomCBS shares at $23 for a stock that closed Wednesday at $65.63. The longtime ViacomCBS bear was not impressed with the company’s efforts to distinguish Paramount Plus (a rebrand of CBS All Access) from the competition in the U.S. by emphasizing that it will deliver live news, sports, the live CBS network linear feed and “a mountain” of on-demand entertainment.