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UPDATE: Goldman Sachs Upgrades Viacom to Buy on Improving Fundamentals

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Goldman Sachs upgraded Viacom (NASDAQ: VIAB) from Neutral to Buy and raised the price target from $51.00 to $68.00.

Goldman Sachs commented, "Viacom's fundamentals are positively inflecting and it offers best-in-sector capital returns (11% yield on the current share price) at a lowest-in-sector multiple (10X 2014E EPS). The stepped-up investment in NICK programming is driving ratings higher sequentially, and with more new programs planned, we expect the trend to continue. We expect US advertising growth to continue accelerating with a return to positive growth in the June quarter. Also, upside may be realized from SVOD licensing deals, including renewals with NFLX and AMZN."

Viacom closed at $57.88 on Friday.

Latest Ratings for VIAB

DateFirmActionFromTo
Aug 2014BarclaysMaintainsUnderweight
Jul 2014Cowen & CompanyDowngradesOutperformMarket Perform
Jul 2014BarclaysInitiates Coverage onUnderweight

View More Analyst Ratings for VIAB
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

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