Viacom: Credit Suisse cuts target; remains 'constructive'.
(CercleFinance.com) - Credit Suisse cuts its price target on Viacom to 45 dollars from 55 dollars, maintaining its "outperform" rating after what it describes as a "messy quarter.
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In a research note, the brokerage firm says the group's Q3 report brought "plenty of ammunition for bears" and proved that the media company's turnaround remains "elusive."
Although this is likely to put near term pressure on the stock, Credit Suisse highlights it may also bring forward a reassessment of a combination with CBS.
"On balance we remain constructive on the equity story," the broker writes in its note.
Viacom shares are currently down 11.6% at 31 dollars on the Nasdaq.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
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In a research note, the brokerage firm says the group's Q3 report brought "plenty of ammunition for bears" and proved that the media company's turnaround remains "elusive."
Although this is likely to put near term pressure on the stock, Credit Suisse highlights it may also bring forward a reassessment of a combination with CBS.
"On balance we remain constructive on the equity story," the broker writes in its note.
Viacom shares are currently down 11.6% at 31 dollars on the Nasdaq.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.