Macquarie analyst Tim Nollen downgraded Viacom (VIAB) to Neutral from Outperform and keeps a Neutral rating on CBS (CBS) shares after the two companies announced a merger deal with no premium for Viacom following "3 years of on again/off again merger discussions amidst wrenching change in the industry." While he believes the deal's strategic positives outweigh the risks, Nollen said integration might not be easy and that ViacomCBS will still be "small-ish" compared with competitors Comcast (CMCSA) and Disney (DIS). He lowered his price target on Viacom shares to $31 from $37 and cut his price target on CBS shares to $53 from $55.
News For VIAB;VIA;CBS;CMCSA;CMCSK;DIS From the Last 2 Days
In a regulatory filing released on Friday, September 13, Apple (AAPL) disclosed that Disney (DIS) CEO Bob Iger had resigned from the board of Apple. While this news... To see the rest of the story go to thefly.com. See Story Here