As reported previously, BTIG analyst Richard Greenfield upgraded Viacom (VIAB) to Buy from Neutral, citing his belief that investors have lost confidence in CEO Philippe Dauman and the board and that that National Amusements will replace a majority of the Viacom board, outside themselves, and replace a significant portion of Viacom's executive management team. "Barring a great bid for the whole of Viacom, we believe National Amusements knows its best strategic move is to move quickly to recombine Viacom and CBS (CBS)," wrote Greenfield, who has a $55 target on Viacom's Class B non-voting shares. The upgrade comes as Reuters has reported that Sumner Redstone's National Amusements has removed five of Viacom's directors, including CEO Philippe Dauman, from the board.