Market Overview

Piper Jaffray Reiterates Overweight Rating, $53 PT on Viacom

Share:

Piper Jaffray reiterates its Overweight rating and $53 price target on Viacom, Inc. (NYSE: VIA.B) as management is looking into expanding buyback of its shares.

According to Piper Jaffray, “Viacom reported adj. EPS of $1.06 in-line with our estimate and above consensus of $1.02. Filmed Entertainment revenue of $1.8B was ahead of our expectations and consensus of $1.5B. Media Networks reported in-line with consensus revenue of $2.3B, but below our estimate of $2.4B. We remain bullish on VIA.B shares based on important trends underway at the company: annual high-single-digits affiliate fee growth, improving film slate, expansion of EPIX distribution and now a major expansion of the share repurchase program from $4B to $10B.”

VIA.B closed Thursday's trading at $43.61 a share.

 

Related Articles (VIA.B)

View Comments and Join the Discussion!

Posted-In: Piper JaffrayAnalyst Color Earnings News Reiteration Analyst Ratings

Latest Ratings

StockFirmActionPT
UBERRBC CapitalMaintains50.0
UBERMizuhoMaintains42.0
WIXJMP SecuritiesMaintains363.0
UBERBarclaysMaintains43.0
CVIJP MorganInitiates Coverage On22.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com