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Fly News Breaks for May 5, 2017
VIAB
May 5, 2017 | 08:16 EDT
Morgan Stanley analyst Benjamin Swinburne said Viacom shares are pricing in fears of a major distribution loss, which is unlikely, and said a 13% free cash flow yield on a growing business medium-term is compelling. The analyst continues to expects US distribution revenue growth to accelerate as it reprices from AT&T/DirecTV, and expects ad revenue to stabilize towards +50bps annual growth by 2018. Swinburne rates Viacom an Overweight with a $48 price target.
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