Stifel Downgrades Viacom (VIAB) to Hold with Paramount Sale on Hold

September 19, 2016 6:41 AM EDT
Get Alerts VIAB Hot Sheet
Price: $38.10 +0.87%

Rating Summary:
    15 Buy, 24 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 9 | New: 77
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Stifel downgraded Viacom (NASDAQ: VIAB) from Buy to Hold with a price target of $38.00 (from $49.00) following reports that the Viacom Board has decided to table plans to sell a minority interest in Paramount.

Analyst Benjamin Mogil commented, "We are moving to a Hold rating following more press reports that the Viacom Board has decided to table plans to sell a minority interest in Paramount. We had been holding the potential of a sale as one of the key anchors of our Buy rating as such a sale would have made the core Media assets despite the challenges appear under-valued. With that sale potential now gone, we view the stock as fairly valued."

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 $37.00 yesterday.



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