Wedbush Upgrades Viacom (VIAB) to Outperform; Sees 75% Chance of Deal
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your 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
- Mercury Computer (MRCY) PT Raised to $30 at Jefferies Following 2Q Report
- Facebook (FB) Q4 Estimates, PT Raised At Jefferies
- UPDATE: Oppenheimer Upgrades Columbia Property Trust (CXP) to Outperform
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!