Viacom (VIAB) is Upgraded by Wedbush to Outperform, Price Target at $46

Viacom (VIAB) was Upgraded by Wedbush to ” Outperform” and the brokerage firm has set the Price Target at $46. Earlier the firm had a rating of “Neutral ” on the company shares. Wedbush advised their investors in a research report released on Oct 17, 2016.

Many Wall Street Analysts have commented on Viacom. Company shares were Upgraded by BofA/Merrill on Oct 13, 2016 to ” Buy”, Firm has raised the Price Target to $ 44 from a previous price target of $37 .Viacom was Upgraded by Wells Fargo to ” Market Perform” on Oct 13, 2016. Shares were Reiterated by Wedbush on Sep 27, 2016 to “Neutral” and Lowered the Price Target to $ 40 from a previous price target of $44 .

On the company’s financial health, Viacom reported $1.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $1.02. The company had revenue of $3107.00 million for the quarter, compared to analysts expectations of $3007.44 million. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.47 EPS.

Viacom opened for trading at $36.1 and hit $36.27 on the upside on Friday, eventually ending the session at $36, with a gain of 0.50% or 0.18 points. The heightened volatility saw the trading volume jump to 46,80,586 shares. Company has a market cap of $14,280 M.

Viacom Inc. (Viacom) is an entertainment content company that connects with audiences in over 160 countries and territories and creates compelling television programs motion pictures short-form video applications games consumer products social media and other entertainment content. The Company operates through two segments: Media Networks and Filmed Entertainment. Viacom Media Networks’ program services reached approximately 700 million households in over 160 countries. Viacom Media Networks operates the international extensions of the multimedia brands MTV VH1 Nickelodeon Comedy Central and BET as well as certain program services. The Company’s Filmed Entertainment segment produces finances acquires and distributes motion pictures and other entertainment content. under the Paramount Pictures Paramount Vantage Paramount Classics Insurge Pictures MTV Films and Nickelodeon Movies brands.

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