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Fly News Breaks for April 28, 2015
DISCA, VIA.B, VIAB
Apr 28, 2015 | 06:00 EDT
UBS analyst Doug Mitchelson upgraded Viacom (VIAB) to Buy saying the valuation is "too cheap" at current levels. The analyst expects the company to sign "reasonable renewals" this year with Mediacom, Charter (CHTR) and DISH (DISH), providing a catalyst for the stock. He raised his price target for shares to $81 from $73. Mitchelson coupled the upgrade of Viacom with a downgrade of Discovery (DISCA) to Sell.