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Fly News Breaks for October 15, 2018
CBS, VIA, VIAB
Oct 15, 2018 | 07:37 EDT
Morgan Stanley analyst Benjamin Swinburne resumed coverage of Viacom (VIAB) with an Equal Weight rating and $34 price target, stating that while he is encouraged by new management's revamped strategy and recent personnel decisions, the dual overhangs of upcoming distributor renewals and CBS (CBS) merger speculation may keep the stock range-bound. Swinburne added that he does not expect Viacom to look to sell Paramount, and to his knowledge the company has not indicated it would do so, but he believes the film studio is a "true hidden asset."
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