Paramount Skydance (PSKY) shares rose more than 8% on Friday. This rally snapped a six-day losing streak for the stock.
Morgan Stanley issued a double upgrade to Overweight from Underweight. Analysts raised the price target to $14 from $11. The firm cited the proposed Warner Bros. Discovery acquisition as a game-changing move.
Warner Bros. Discovery shareholders approved the sale. Financial institutions successfully syndicated the bridge loan for the acquisition. These milestones increased investor confidence in the merger's financing plan.