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Fly News Breaks for October 12, 2015
VIAB
Oct 12, 2015 | 09:00 EDT
RBC Capital recognizes that Viacom is facing "uncertainty," partly due to ratings declines and "a temporary slowdown" in the pace of its capital returns . However, the firm thinks that the decline in the stock is overdone, as it expects the company to be able to renew a major affiliate agreement next year. Moreover, the firm predicts that the declines in the company's domestic ad revenues will decelerate sequentially. RBC keeps a $60 price target and Outperform rating on the shares.
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