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Fly News Breaks for February 9, 2017
VIAB, VIA
Feb 9, 2017 | 11:42 EDT
Loop Capital analyst attributes most of Viacom's Q1 earnings beat to higher ancillary activity at Paramount, which called a "nice surprise on the upside." However, he also said he views the five-point plan laid out by CEO Bob Bakish as "underwhelming," adding "there was no mention of selling any networks...and yet the stock appears to be acting that way." He raised his price target on Viacom to $41 from $38 to account for expectations for slightly lower programming costs in FY18, but keeps a Hold rating on the stock.
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