Paramount Skydance Corp (NASDAQ:PSKY) stock is 6.9% higher to trade at $10.95 at last glance, after a double upgrade at Morgan Stanley to "overweight" from "underweight," as well as a price-target hike to $14 from $11. The firm cited the Warner Bros Discovery (WBD) buyout, AI-related cost savings, and a focus on growing streaming and studio assets.
Analysts leaned bearish coming into today, with 19 of the 20 firms in coverage sporting a "hold" or worse rating. This suggests even more upgrades may be in store. However, the security's 12-month consensus of $13.08 is already a 18.7% premium to current levels.
PSKY is on track to snap a six-day losing streak, but overhead pressure from the $12 level rejected a rally last month from its March 19, roughly 16-year low of $8.62. The equity has distanced itself from their Sept. 25, record high of 20.86, but is still down 19% in 2026.
Short sellers have been piling on the stock of late, with short interest up 15.9% in the last two reporting periods. The 88.74 shares sold short account for 8.6% of the security's total available float, or nearly seven days' worth of pent-up buying power.
