Barclays Maintains an 'Overweight' on Viacom (VIA-B); Share Buyback Materially Increased
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Price: $44.76 --0%
Rating Summary:
2 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
2 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Barclays maintains an 'Overweight' on Viacom (NYSE: VIA-B) price target of $57.00.
Barclays analyst says, "Buyback authorization increased to $10B: VIAB repurchased $889M in stock during the F4Q, finishing the fiscal year with $2.45B in share repurchases. Improving on an already impressive return of capital policy, VIAB announced that the Board increased the existing authorization to $10B-which would likely be completed over the next two years. Accounting for the more aggressive pace of the buyback, we are taking up our FY '12 EPS estimate to $4.28 from $4.20, which assumes $2.8B of 2012E buy backs. We are maintaining our price target of $57, which is based on a P/E multiple of 12.7x our CY-2012 estimate of $4.48."
For an analyst ratings summary and ratings history on Viacom click here. For more ratings news on Viacom click here.
Shares of Viacom closed at $43.61 yesterday.
Barclays analyst says, "Buyback authorization increased to $10B: VIAB repurchased $889M in stock during the F4Q, finishing the fiscal year with $2.45B in share repurchases. Improving on an already impressive return of capital policy, VIAB announced that the Board increased the existing authorization to $10B-which would likely be completed over the next two years. Accounting for the more aggressive pace of the buyback, we are taking up our FY '12 EPS estimate to $4.28 from $4.20, which assumes $2.8B of 2012E buy backs. We are maintaining our price target of $57, which is based on a P/E multiple of 12.7x our CY-2012 estimate of $4.48."
For an analyst ratings summary and ratings history on Viacom click here. For more ratings news on Viacom click here.
Shares of Viacom closed at $43.61 yesterday.
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