Bernstein analyst Todd Juenger initiated coverage of ViacomCBS (VIAC) with an Underperform rating and $33 price target. He believes ViacomCBS lacks the diversification, balance sheet, and intellectual property to go "all-in on DTC," as Disney (DIS) has, and while pursuing a strategy of being a "free cash flow machine," like Discovery (DISCA), would be perhaps the optimal strategy, Juenger doesn't believe it's palatable to the board or consistent with the recombination. That means the company is left with the "a little bit of everything, but nothing in particular" path, which he calls "the no-strategy strategy."

Netflix (NFLX) is scheduled to report its first quarter 2024 financial results and business outlook on Thursday, April 18. A video interview... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here