Wedbush Upgrades Viacom (VIAB) to Outperform; Sees 75% Chance of Deal
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Analyst James Dix commented, "... one “Les” company in big media should be more for VIAB shareholders; upgrading VIAB to OUTPERFORM from NEUTRAL on higher PT given increasing likelihood of merger. From our analysis, we highlight: 1) a detailed assessment of the strategic value of a transaction for CBS, which we see as paramount for its Chairman and CEO, Les Moonves; 2) assessment of where Paramount fits among the major Hollywood film studios, including takes from conversations with industry experts and talent, and 3) a presentation of various merger and stand-alone scenarios."
The firm places a 75% probability on a merger, which they assume would be an all-stock transaction.
Shares of Viacom closed at $36.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JPMorgan Raises Rating on CBOE Holdings (CBOE) to 'Overweight'; Analyst Thinks Bats Technology Will Drive Greater Trading Activity
- Jefferies Cuts Price Target on Eros Int'l (EROS) to $18 Following Multi-Year Deal
- BTIG Cuts PT on Workday (WDAY) to $88 Following Q3 Results; Affirms at 'Buy'
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Upgrades, Mergers and Acquisitions, Rumors, Upgrades
Related EntitiesDefinitive Agreement
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!