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Fly News Breaks for August 7, 2015
VIAB
Aug 7, 2015 | 05:54 EDT
Barclays analyst Kannan Venkateshwar upgraded Viacom two notches to Overweight saying the stock is pricing in "extreme risks" at current levels. Following the recent selloff, shares are pricing in decline scenarios worse than newspapers, which is unrealistic, Venkateshwar tells investors in a research note. The analyst reduced his price target for Viacom shares to $56 from $67. The stock closed yesterday down $7.31 to $44.10.
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