UPDATE: Sterne Agee Initiates Viacom at Buy PT on Multiple Positive Factors
In a report published Thursday, Sterne Agee analyst Vasily Karasyov initiated coverage on Viacom (NASDAQ: VIAB) with a Buy rating and $76.50 price target.
In the report, Sterne Agee noted, “We are initiating coverage of VIAB, the cheapest large cap media stock in the group, with a Buy rating. We expect improving advertising revenue trends to provide support to the current P/E multiple of 13x which, combined with EPS growth driven by operating earnings and continued buybacks, imply a stock price of $76.50 within 12 months, up 14% from the current level.”
Viacom closed on Wednesday at $65.26.
Latest Ratings for VIAB
|Dec 2016||RBC Capital||Downgrades||Sector Perform||Underperform|
|Nov 2016||FBR Capital||Downgrades||Outperform||Market Perform|
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