Wedbush Upgrades Viacom (VIAB) to Outperform; Sees 75% Chance of Deal
- Wall St. touches two-week high on deals, strong earnings
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- TD Ameritrade (AMTD) to Acquire Scottrade in $4B Cash & Stock Deal
- Pre-Open Stock Movers 10/24: (BEAV) (JPEP) (HLT) Higher; (BAS) (INO) (ADRO) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium 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
- Wedbush Raises Price Target on Citizens Financial Group (CFG) Following 3Q EPS Beat
- Susquehanna Cuts Price Target on KLA-Tencor (KLAC) Following Strong 1Q
- Community Bank System (CBU) to Acquire Merchants Bancshares (MBVT) in ~$304M Deal
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!