Barrington Research Downgrades Viacom (NASDAQ: VIAB) Due to High Valuation
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Price: $69.33 +0.46%
Rating Summary:
6 Buy, 8 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 24 | New: 24
Rating Summary:
6 Buy, 8 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 24 | New: 24
Trade VIAB Now!
Barrington Research downgraded Viacom (NASDAQ: VIAB) from Outperform to Market Perform.
“While the stock has been range bound recently, it is now trading around a 52-week high,” said analyst James C. Goss. “Operational challenges in both major business sectors have caused us to take our estimates down to more conservative levels. The resulting impact on our target price calculations suggests a reduction in our rating is in order. While current operations indicate somewhat higher prices are possible, the upside is insufficient to justify our top rating at the current time.”
Barrington’s estimate for fiscal 2013 is now $4.70, previously $5.05, and for 2014 the estimate is $5.75.
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 $49.79 yesterday, with a 52 week range of $41.72-$50.05.
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“While the stock has been range bound recently, it is now trading around a 52-week high,” said analyst James C. Goss. “Operational challenges in both major business sectors have caused us to take our estimates down to more conservative levels. The resulting impact on our target price calculations suggests a reduction in our rating is in order. While current operations indicate somewhat higher prices are possible, the upside is insufficient to justify our top rating at the current time.”
Barrington’s estimate for fiscal 2013 is now $4.70, previously $5.05, and for 2014 the estimate is $5.75.
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 $49.79 yesterday, with a 52 week range of $41.72-$50.05.
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