Viacom (VIAB): Paramount Deal Off The Table, Cutting PT - Wedbush

September 27, 2016 6:47 AM EDT
Get Alerts VIAB Hot Sheet
Price: $37.51 +2.77%

Rating Summary:
    17 Buy, 24 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Wedbush analyst, James Dix, reiterated his Outperform rating on shares of Viacom (NASDAQ: VIAB) but cut his price target to $40 from $44 after he reduced estimates for Filmed Entertainment. The lower PT reflects lower estimates and lower weight on SoTP valuation, given that VIAB has announced that a deal for a stake in Paramount is off the table.

Shares appear to be in a catalyst-free zone pending the selection of new CEO.

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 $34.84 yesterday.

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