Viacom (VIAB): Paramount Deal Off The Table, Cutting PT - Wedbush
- AT&T (T) Agrees to Acquire Time Warner (TWX) for More than $80 Billion - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
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.
Shares of Viacom closed at $34.84 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Imperial Capital Raises Price Target on Proofpoint (PFPT) Following Strong 3Q Results
- Jefferies Cuts Price Target on Packaging Corp. (PKG) to $93; Reiterates Buy
- RBC Capital Raises Price Target on Benchmark Electronics (BHE) Following In-Line 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!