Nomura Securities Maintains a 'Buy' on Viacom (VIA); Raising Numbers Despite Drop in Ads
Tweet Send to a FriendGet Alerts VIA Hot Sheet
Price: $68.42 -0.68%
Rating Summary:
5 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
5 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade VIA Now!
Nomura Securities maintains a 'Buy' on Viacom (NASDAQ: VIA) price target raised from $55 to $57.
Analyst, Michael Nathanson, said, "We are reducing our advertising projections for Viacom through the rest of the fiscal year. We now project FY12 ad revenues to be down 1.4% Y/Y (vs. -0.5% prev.). We are increasing FY12E affiliate fee growth to 10% (from 9%), including the upside from F2Q and stronger digital revenue in F2H12. We are increasing our FY12E EPS by from $4.00 to $4.34 and maintaining our FY13E EPS estimate at $4.97...Valued at 9.5x CY13E is inexpensive for patient investors. We believe that Viacom is simply too cash-generative, too cheap and too resilient to trade below these levels vs. peers and the market."
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 $52.59 yesterday, with a 52 week range of $44.10-$60.90.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Michael Nathanson, said, "We are reducing our advertising projections for Viacom through the rest of the fiscal year. We now project FY12 ad revenues to be down 1.4% Y/Y (vs. -0.5% prev.). We are increasing FY12E affiliate fee growth to 10% (from 9%), including the upside from F2Q and stronger digital revenue in F2H12. We are increasing our FY12E EPS by from $4.00 to $4.34 and maintaining our FY13E EPS estimate at $4.97...Valued at 9.5x CY13E is inexpensive for patient investors. We believe that Viacom is simply too cash-generative, too cheap and too resilient to trade below these levels vs. peers and the market."
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 $52.59 yesterday, with a 52 week range of $44.10-$60.90.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: BofA/Merrill Lynch Upgrades Adobe (ADBE) to Buy
- UPDATE: Bernstein Cuts BlackBerry (BBRY) to Underperform; Notes Weak BB10 Traction
- Deutsche Bank Sees Upside in AIG (AIG) Stock
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Nomura
Login with Facebook
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!
