Janney Montgomery Scott Upgrades Viacom (VIAB) to Buy
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Price: $24.22 --0%
Rating Summary:
19 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
19 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Janney Montgomery Scott upgraded Viacom (NASDAQ: VIAB) from Neutral to Buy with a price target of $65.00 (from $54.50).
Analyst Tony Wible comments, "We are upgrading VIA to BUY from Neutral, as we see continued ratings improvement from programming investments, a more promising Paramount slate, and a lean expense structure capable of producing more earnings leverage. Furthermore, we see VIA benefiting from its exposure to 2nd screen advertising, new consumer product sales, an incremental Marvel payout, improving FX trends, digital sales, capital structure improvements, and international growth. We believe risk around macro conditions is improving along with ratings to reduce uncertainty in ad revenue that should build into fall 2013. We continue to watch for signs of OTT cannibalization but have seen this threat stabilize in recent months."
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 $58.50 yesterday.
Analyst Tony Wible comments, "We are upgrading VIA to BUY from Neutral, as we see continued ratings improvement from programming investments, a more promising Paramount slate, and a lean expense structure capable of producing more earnings leverage. Furthermore, we see VIA benefiting from its exposure to 2nd screen advertising, new consumer product sales, an incremental Marvel payout, improving FX trends, digital sales, capital structure improvements, and international growth. We believe risk around macro conditions is improving along with ratings to reduce uncertainty in ad revenue that should build into fall 2013. We continue to watch for signs of OTT cannibalization but have seen this threat stabilize in recent months."
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 $58.50 yesterday.
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