Shares of Paramount Global (NASDAQ: PARA) were up 3.3% as of 2:54 p.m. ET Tuesday following an upgrade from Bank of America. Its analyst said the company's key profit centers are undervalued, justifying a valuation far greater than the stock's present price.

BofA analyst Jessica Reif Ehrlich called Paramount a "shopping list of attractive assets."

The company isn't known to be looking for a suitor, nor are any potential buyers known to be mulling an acquisition. But Paramount is a top studio, with recent hit films like Top Gun: Maverick and popular television programs such as Yellowstone.

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Source Fool.com