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Fly News Breaks for November 23, 2015
VIA, VIAB
Nov 23, 2015 | 06:28 EDT
Deutsche Bank analyst Bryan Kraft downgraded Viacom to Hold citing valuation with the stock up 35% from the August 26 lows. Viacom's lack of sports to offset the decline in general entertainment advertising will keep its multiple at lower end of the group, Kraft tells investors in a research note. He keeps a $56 price target for shares.
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