ViacomCBS (VIAC) PT Raised to $60 at BMO Capital
Get Alerts VIAC Hot Sheet
Rating Summary:
12 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 10
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BMO Capital analyst Daniel Salmon raised the price target on ViacomCBS (NASDAQ: VIAC) to $60.00 (from $27.00) while maintaining a Market Perform rating.
The analyst commented, "We think VIAC has re-rated for three main reasons: 1) delivering on the promise of the merger; 2) a lagging recovery in the broader TV ad market, led by connected TV, and; 3) most importantly, a clearer narrative about streaming as the most important business at ViacomCBS. We think the latter momentum could continue tomorrow, but risk/reward on VIAC may be more challenging thereafter as secular pressures on the linear and traditional businesses continue to build."
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