Market Overview

UPDATE: Citigroup Raises PT to $68 on Viacom; Rolls Valuation to 2014

Related VIAB
Wunderlich Securities Sees Sony Deal As Good For Viacom, Inc.
#PreMarket Primer: Thursday, September 11: Obama Pledges To Combat ISIS Until Threat Is Eliminated
Binge Watching, Sports at Center of Fox Bid for Time Warner (Fox Business)

Citigroup maintained Viacom Inc. (NASDAQ: VIAB) with a Buy and raised the price target from $62.00 to $68.00.

Citigroup commented, "In 1Q13, we expect revenue to decline 6% to $3.72 billion; our estimate is 6% above consensus. We expect advertising revenue to fall 4% and affiliate fees to grow 3%. Our operating income estimate of $837 million is 2% above consensus. All told, our EPS estimate of $0.93 is two pennies above consensus. … We are rolling ahead our valuation from 2013 to 2014. By applying a 13x multiple to our 2014 EPS estimate of $5.25, we arrive at our $68 price target. Given solid upside potential from current levels, we remain buyers of the stock."

Viacom closed at $58.76 on Tuesday.

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: CitigroupAnalyst Color Price Target Analyst Ratings

 

Related Articles (VIAB)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters