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Fly News Breaks for September 23, 2019
CBS, VIAB
Sep 23, 2019 | 16:44 EDT
Wells Fargo analyst Steven Cahall initiated Viacom (VIAB) with an Underperform rating and a price target of $23, saying the "deal fatigue" has turned him negative on the CBS (CBS) merger story. The analyst contends that the long-term strategy of the combined entity is "unclear" and warns that there may be risk to its future fundamentals.
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