Needham & Company Upgrades Viacom (VIAB) to Buy

Needham & Company upgraded Viacom (NASDAQ: VIAB) from Hold to Buy with a price target of $40.00.

Analyst Laura martin comments "we believe that, at today’s prices, VIAB’s FY18E P/E of 8.2 is 15-30% below peers, especially because Paramount's losses lower reported earnings while its library has a positive value of $5B-10B. Strategically, we think VIAB is doing several things that suggest valuation upside: a) diversifying away from linear TV; b) adding data to linear TV ad units; and c) focusing on 6 core channels, which aids skinny bundle adoption."

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 $32.64 yesterday.

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