Deutsche Bank has downgraded Paramount Global's stock rating from Buy to Hold, lowering the price target to $12 from $15, as EBITDA estimates for 2025-2027 were reduced by 8-10%. The stock, currently at $11.68, has experienced volatility and faces challenges in the advertising outlook due to macroeconomic factors. Despite a recent earnings miss, Paramount+ added 5.6 million subscribers, bringing the total to 77.5 million, while analysts' ratings vary, reflecting the company's mixed prospects in a changing media landscape.