** Shares of media giant Paramount Global PARA.O fall 1.2% to $11.59 in premarket trading
** Deutsche Bank cuts co's rating to "hold" from "buy" and PT to $12 from $15
** Brokerage cites increasing risk to advertising outlook and more attractive investment alternatives in the sector
** "The media industry has continued to evolve over the past nine months since the merger(Paramount-Skydance) agreement was signed, but we don't know how Skydance's plans and target have evolved in response to such changes" - brokerage
** 5 of 25 brokerages rate stock "buy" or higher, 11 "hold" and 9 "sell" or lower; their median PT is $11
** Stock had fallen 29.3% in 2024
(Reporting by Harshita Mary Varghese in Bengaluru)
((HarshitaMary.Varghese@thomsonreuters.com))
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