Paramount Global (NYSE:PARA) stock rose by 15% over the last week, meaningfully outperforming the S&P 500 which was down almost 3%.
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The recent rally comes as Warren Buffett’s Berkshire Hathaway indicated in a securities filing that it has acquired a $2.6 billion stake in Paramount.
We think Paramount stock remains undervalued, trading at just about 13x consensus 2022 earnings, with revenue growth also likely to pick up versus historical levels. We value Paramount at about $43 per share, which is almost 30% ahead of the current market price.
|S&P 500 Return||-6%||-18%||74%|
|Trefis Multi-Strategy Portfolio||-5%||-21%||209%|
 Month-to-date and year-to-date as of 5/23/2022
 Cumulative total returns since the end of 2016