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Fly News Breaks for June 21, 2016
CBS, VIAB
Jun 21, 2016 | 06:36 EDT
Deutsche Bank analyst Bryan Kraft believes a recombination of Viacom (VIAB) and CBS (CBS) is unlikely. For CBS management and independent directors to support a merger, a deal would likely have to be a take-under given Viacom's growth outlook, Kraft tells investors in a research note. He thinks a sale of the Paramount division is more likely for Viacom. The analyst raised his price target for Viacom to $39 from $36 and keeps a Hold rating on the name.
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