UPDATE: Viacom (VIAB) Tops Q2 EPS by 20c, Revenues Rise 8%
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May 5, 2017 10:00 AM EDT
BMO Capital lowered its price target on Viacom (NASDAQ: VIAB) to $42.00 (from $44.00) while maintaining a Market Perform rating.
Analyst Daniel Salmon believes that caution remains warranted on the outlook for Viacom's affiliate fee growth.
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May 4, 2017 7:12 AM EDT
By Jessica Toonkel
(Reuters) - Viacom Inc (NASDAQ: VIAB), the owner of MTV, Comedy Central and Nickelodeon, reported second-quarter profit that beat estimates on Thursday, but worry that it will lose revenue from a big cable distributor weighed on its stock.
News that Charter Communications (NASDAQ: CHTR) had re-tiered five of Viacom's flagship networks to its most expensive programming tier, a move that will likely result in lower affiliate revenue for the media company, prompted a steep selloff.
Viacom's stock dropped as much as 10 percent but had... More
