UPDATE: Barrington Downgrades Viacom to Market Perform

In a report published Friday, Barrington Research downgraded its rating on Viacom

from Outperform to Market Perform. Barrington noted, “We are reducing our rating on VIAB to MARKET PERFORM. While the stock has been range bound recently, it is now trading around a 52-week high. Operational challenges in both major business sectors have caused us to take our estimates down to more conservative levels. The resulting impact on our target price calculations suggests a reduction in our rating is in order. While current operations indicate somewhat higher prices are possible, the upside is insufficient to justify our top rating at the current time.” Viacom closed on Thursday at $49.79.