Viacom (VIAB) Reiterated Buy at Wunderlich; Noah International Results Called 'Remarkable'
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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: 11 | New: 14
Rating Summary:
19 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Wunderlich Securities reiterated a Buy rating on Viacom (NASDAQ: VIAB) with a price target of $103.00. Comments follow the release of Noah.
Analyst Matthew Harrigan said, "Noah opened at a very strong $44mm stateside across 3,562 locations, after an extended film editing process aimed at broadening audiences, extensive testing, and ample criticism from the faith based community."
"Initial international results were remarkable, with the film earning $51mm cumulatively ($33.6mm this weekend) already overseas and opening at $17mm in Russia. (This amazingly was the all-time top opening for a non-sequel in that market and the fourth best Russian opening ever.) Broadly, we estimate that Buy-rated Viacom's (VIAB) price now implicitly discounts just 0.5% MTV network annual ad receipt growth through F2018, assuming the affiliate fee path is to expectation and that the modestly sized Paramount studio executes as with Noah. WSI's S&P 500 linked price target remains $103," he added.
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 $84.69 yesterday.
Analyst Matthew Harrigan said, "Noah opened at a very strong $44mm stateside across 3,562 locations, after an extended film editing process aimed at broadening audiences, extensive testing, and ample criticism from the faith based community."
"Initial international results were remarkable, with the film earning $51mm cumulatively ($33.6mm this weekend) already overseas and opening at $17mm in Russia. (This amazingly was the all-time top opening for a non-sequel in that market and the fourth best Russian opening ever.) Broadly, we estimate that Buy-rated Viacom's (VIAB) price now implicitly discounts just 0.5% MTV network annual ad receipt growth through F2018, assuming the affiliate fee path is to expectation and that the modestly sized Paramount studio executes as with Noah. WSI's S&P 500 linked price target remains $103," he added.
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 $84.69 yesterday.
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