Brean Capital Upgrades Viacom (VIAB) to Buy
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Brean Capital upgraded Viacom (NASDAQ: VIAB) from Hold to Buy with a price target of $44.00.
Analyst Alan Gould commented, "We are raising our rating on Viacom to Buy from Hold. In our opinion, the stock has gotten cheap enough that most, if not all, of the negatives are fully discounted into the stock price, the sentiment is negative, and there are enough potential positive catalysts that the risk/reward ratio has become quite positive. Our Target Price is $44, 11.5x EPS and ~9x next year's EV/EBITDA on our estimates which are substantially below Street consensus."
Shares of Viacom closed at $38.08 yesterday.
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