Goldman Sachs Raises Price Target on Viacom (VIA-B)

Earlier, Goldman Sachs lifted their price target on Viacom, Inc. (NYSE: VIA.B) from $24 to $27, which is based on 11x their revised 'Street High' 2010 EPS estimate of $2.45. The firm also raised 2011 EPS estimates to $2.70. The firm thinks Viacom can deliver EPS growth of 20%.

Shares of Viacom are up 1% today to $22.37, which provides 21% upside to the firm's new price target.

Viacom Inc. operates as an entertainment content company principally in the United States and Europe.

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