Market Overview

UPDATE: Deutsche Bank Raises PT on Viacom on Value Play Status

Related VIAB
Batman vs. Superman Shaping Up To Be JLA Preview With 'Flashy' Growing Cast
10 New Buzzwords And The Companies That Inspired Them
Binge Watching, Sports at Center of Fox Bid for Time Warner (Fox Business)

In a report published Monday, Deutsche Bank analyst Doug Mitchelson reiterated a Buy rating on Viacom (NASDAQ: VIAB), and raised the price target from $86.00 to $93.00.

In the report, Deutsche Bank noted, “We see Viacom as the only value play in our Media coverage, trading at a 4x P/E discount (14x CY13E vs. sector 18x). This despite the NICK ratings rebound and now ad turnaround. We expect the discount to narrow as investors gain confidence in viewership (NAN, MTV and CMT also all growing nicely); a meaningful better upfront to drive FY14, and a surprise planned repurchase of 10% of shrs out the next 6 mos. Maintain Buy.”

Viacom closed on Friday at $79.17.

Posted-In: Deutsche Bank Doug MitchelsonAnalyst Color Price Target Analyst Ratings

 

Related Articles (VIAB)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters