UPDATE: UBS Downgrades Viacom (VIAB) to Neutral; Ratings Weakness Problematic; Growth Concerns Into FY13
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Price: $24.22 --0%
Rating Summary:
19 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
19 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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(Updated - July 10, 2012 12:53 PM EDT)
UBS downgraded Viacom (Nasdaq: VIAB) from Buy to Neutral. PT lowered from $54 to $48.
Analyst, John Janedis, said, "Downgrading on concerns related to ongoing ratings weakness; the likelihood of below peer/trend ad growth; pressure on the kids ad category in F13; possible slowing in the buyback, & a slowdown in affiliate fee growth. While the stock is cheap at 9.9x our F13 EPS estimates, we expect it to trade sideways until some of our concerns are resolved...We continue to think the concerns related to Netflix (Nasdaq: NFLX) / Amazon (Nasdaq: AMZN) viewing are overblown in the near-term, but from a content perspective, our sense is that returning series at MTV are under-performing which will translate to further make goods and a drag on ad growth in F13."
Q4 EPS lowered from $1.28 to $1.23, FY12 from $4.32 to $4.28 and FY13 from $5.08 to $4.82.
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 $44.76 yesterday.
UBS downgraded Viacom (Nasdaq: VIAB) from Buy to Neutral. PT lowered from $54 to $48.
Analyst, John Janedis, said, "Downgrading on concerns related to ongoing ratings weakness; the likelihood of below peer/trend ad growth; pressure on the kids ad category in F13; possible slowing in the buyback, & a slowdown in affiliate fee growth. While the stock is cheap at 9.9x our F13 EPS estimates, we expect it to trade sideways until some of our concerns are resolved...We continue to think the concerns related to Netflix (Nasdaq: NFLX) / Amazon (Nasdaq: AMZN) viewing are overblown in the near-term, but from a content perspective, our sense is that returning series at MTV are under-performing which will translate to further make goods and a drag on ad growth in F13."
Q4 EPS lowered from $1.28 to $1.23, FY12 from $4.32 to $4.28 and FY13 from $5.08 to $4.82.
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 $44.76 yesterday.
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