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Fly News Breaks for August 14, 2019
VIAB, CBS
Aug 14, 2019 | 06:36 EDT
Citi analyst Jason Bazinet lowered his price target for CBS (CBS) to $57 from $60 after the company announced its merger with Viacom (VIAB). The analyst, who expects the deal to close in Q4, thinks the market will continue to ascribe a "somewhat muted multiple" to the pro forma equity. Nonetheless, he keeps a Buy rating om CBS.
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