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Fly News Breaks for December 13, 2019
VIAC
Dec 13, 2019 | 08:36 EDT
JPMorgan analyst Alexia Quadrani reinstated coverage of ViacomCBS with an Overweight rating and $50 price target following a period of restriction. ViacomCBS emerges from the CBS, Viacom merger with "significantly greater scale and a cheaper valuation," Quadrani tells investors in a research note. Near-term shares catalysts could include an increase to management's initial cost synergy target of $500M, says the analyst, who views the target as "very conservative."
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