Wunderlich Securities Upgrades Viacom (VIA-B) to Buy After Good Q3 Results
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Wunderlich Securities upgrades Viacom (NYSE: VIA-B) from Hold to Buy. Price target increased from $31 to $34.
Wunderlich analyst says, "We are upgrading Viacom (VIA-B) to Buy. This follows good Q3 earnings (adjusted EPS of $0.68 v. $0.57 consensus) with evidence of the ad market plateauing and a sustainable inflection point at Paramount. The PT is derived off our S&P 500 linked valuation template that re-couples media stocks to the broader market. (It includes a 15% mogul control discount following the resolution of National Amusement's credit issues with a 21.3mm VIA-B share sale). Paramount remains the wild card - it could be worth $3.2 bn+ but is imbedded in the stock price at an implied negative $2.4 bn. VIA-B is also supported by a compelling 10.7% free cash flow yield."
To see more analyst ratings on VIA-B Click Here.
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