Goldman Sachs Raises Target Price But Lowers Estimates on Viacom (VIA-B) Ahead of Q1

Goldman Sachs boosted its price target on Buy-rated Viacom (NYSE: VIA-B) from $53 to $54 ahead of Q1 results Thursday, February 2.

Despite the higher target, Goldman estimates just 2% US advertising growth, down from 5% previously, which is due to Nick ratings declines. They see EPS of $1.03, down from $1.10 previously and $0.03 below consensus.

Goldman said Nick's ratings have falling 25% year-over-year during the last two months driven by changes to Nielsen’s sampling and competition from rival kids networks and SVOD platforms.

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 $44.76 yesterday, with a 52 week range of $35.13-$52.67.

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